Todd Asset Management LLC Has $17.53 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Todd Asset Management LLC trimmed its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 22.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 476,351 shares of the luxury accessories retailer's stock after selling 140,473 shares during the period. Todd Asset Management LLC owned about 0.21% of Tapestry worth $17,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Tapestry by 0.6% in the third quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer's stock valued at $907,190,000 after buying an additional 173,111 shares in the last quarter. FMR LLC lifted its stake in shares of Tapestry by 2.0% in the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer's stock valued at $403,032,000 after buying an additional 280,959 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Tapestry by 4.7% in the third quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer's stock valued at $196,183,000 after buying an additional 305,658 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of Tapestry by 12.7% in the fourth quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer's stock valued at $195,877,000 after buying an additional 597,715 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer's stock valued at $150,916,000 after buying an additional 1,154,808 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

Shares of TPR stock traded up $0.45 during trading hours on Friday, reaching $39.24. The stock had a trading volume of 3,309,937 shares, compared to its average volume of 4,157,360. The stock's fifty day simple moving average is $44.29 and its 200 day simple moving average is $38.34. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The firm has a market capitalization of $9.00 billion, a PE ratio of 9.91, a PEG ratio of 0.80 and a beta of 1.61.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating 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 company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the business earned $1.36 earnings per share. Tapestry's revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.57%. Tapestry's payout ratio is 35.35%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Tapestry from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 2nd. OTR Global reaffirmed a "mixed" rating on shares of Tapestry in a research report on Wednesday, April 17th. Evercore ISI upgraded Tapestry from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group downgraded shares of Tapestry from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $47.81.

About Tapestry

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.