RWC Asset Management LLP Has $52.61 Million Stake in Tapestry, Inc. (NYSE:TPR)

RWC Asset Management LLP lessened its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,429,309 shares of the luxury accessories retailer's stock after selling 81,263 shares during the quarter. Tapestry makes up 3.2% of RWC Asset Management LLP's holdings, making the stock its 7th biggest holding. RWC Asset Management LLP owned approximately 0.62% of Tapestry worth $52,613,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc raised its holdings in shares of 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 period. Allworth Financial LP grew its position in shares of Tapestry by 62.0% during the 4th quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer's stock valued at $60,000 after acquiring an additional 620 shares during the period. AllSquare Wealth Management LLC grew its position in shares of Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer's stock valued at $47,000 after acquiring an additional 423 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Tapestry by 56.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer's stock worth $53,000 after buying an additional 668 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Tapestry in the 3rd quarter worth approximately $63,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 1.7 %

Shares of TPR traded up $0.66 during mid-day trading on Friday, hitting $40.05. 3,329,580 shares of the company's stock were exchanged, compared to its average volume of 4,049,072. The stock's 50-day moving average is $45.04 and its 200-day moving average is $38.00. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.81 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm posted $1.36 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.23 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry's dividend payout ratio (DPR) is presently 35.35%.

Analysts Set New Price Targets

TPR has been the topic of several research reports. Evercore ISI upgraded shares of Tapestry from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Jefferies Financial Group lowered shares of Tapestry from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research note on Thursday, February 29th. OTR Global reaffirmed a "mixed" rating on shares of Tapestry in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Tapestry from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.81.

Tapestry Company 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.