Tapestry Inc (TPR) Holdings Trimmed by Roanoke Asset Management Corp NY

Roanoke Asset Management Corp NY lessened its holdings in Tapestry Inc (NYSE:TPR) by 1.1% during the 1st quarter, HoldingsChannel reports. The firm owned 45,429 shares of the luxury accessories retailer’s stock after selling 500 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Tapestry were worth $1,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Claybrook Capital LLC purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $34,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Tapestry by 1,484.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 1,136,452 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Tapestry by 1,079.0% during the first quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock valued at $44,000 after buying an additional 1,284 shares during the period. Advisory Services Network LLC lifted its stake in shares of Tapestry by 47.1% during the fourth quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock valued at $46,000 after buying an additional 440 shares during the period. Finally, Pearl River Capital LLC purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $66,000. 91.32% of the stock is currently owned by institutional investors.

TPR has been the topic of several recent analyst reports. MKM Partners reduced their price objective on shares of Tapestry to $52.00 in a research note on Monday, February 11th. Needham & Company LLC reduced their price objective on shares of Tapestry to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 8th. Guggenheim reissued a “buy” rating and set a $52.00 price objective on shares of Tapestry in a research note on Tuesday, January 29th. Canaccord Genuity reissued a “buy” rating and set a $58.00 price objective on shares of Tapestry in a research note on Tuesday, February 5th. Finally, Barclays set a $41.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Saturday, February 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $49.75.

Shares of Tapestry stock traded up $0.40 during trading hours on Monday, hitting $32.05. The company’s stock had a trading volume of 137,378 shares, compared to its average volume of 4,019,718. Tapestry Inc has a 1-year low of $30.05 and a 1-year high of $55.50. The firm has a market capitalization of $9.18 billion, a P/E ratio of 12.21, a PEG ratio of 1.13 and a beta of 0.71. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.46.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $1.07 EPS. Tapestry’s revenue was up .9% on a year-over-year basis. On average, research analysts expect that Tapestry Inc will post 2.6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were given a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s payout ratio is currently 51.33%.

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Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

Further Reading: Cost of equity and a company’s balance sheet

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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