Nisa Investment Advisors LLC Sells 20,182 Shares of Tapestry, Inc. (NYSE:TPR)

Nisa Investment Advisors LLC lowered its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 43.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,786 shares of the luxury accessories retailer's stock after selling 20,182 shares during the period. Nisa Investment Advisors LLC's holdings in Tapestry were worth $949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its holdings in Tapestry by 340.7% during the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer's stock valued at $25,000 after purchasing an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new position in Tapestry during the third quarter valued at approximately $26,000. Bell Investment Advisors Inc grew its holdings in Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer's stock valued at $27,000 after purchasing an additional 833 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Tapestry by 955.8% during the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer's stock valued at $41,000 after purchasing an additional 994 shares during the last quarter. Finally, Quarry LP grew its holdings in Tapestry by 100.8% during the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer's stock valued at $41,000 after purchasing an additional 127,311 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

Tapestry stock traded up $0.04 during mid-day trading on Tuesday, hitting $40.87. 4,288,001 shares of the company were exchanged, compared to its average volume of 3,752,584. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average of $45.57 and a 200 day moving average of $37.30. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The company has a market capitalization of $9.37 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the company posted $1.36 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.43%. Tapestry's payout ratio is 35.35%.

Analyst Ratings Changes

TPR has been the subject of several research reports. Telsey Advisory Group reissued an "outperform" rating and issued a $54.00 price objective on shares of Tapestry in a research report on Wednesday, March 27th. TheStreet raised Tapestry from a "c+" rating to a "b-" rating in a research report on Tuesday, December 26th. Wells Fargo & Company increased their price objective on Tapestry from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 2nd. Raymond James increased their price objective on Tapestry from $40.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group cut Tapestry from a "buy" rating to a "hold" rating and set a $50.00 price objective for the company. in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average price target of $47.81.

Tapestry Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.