FDx Advisors Inc. Cuts Stock Position in Tapestry, Inc. (NYSE:TPR)

FDx Advisors Inc. lessened its position in Tapestry, Inc. (NYSE:TPR) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,032 shares of the luxury accessories retailer’s stock after selling 191 shares during the quarter. FDx Advisors Inc.’s holdings in Tapestry were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TPR. Bleakley Financial Group LLC purchased a new stake in shares of Tapestry in the 3rd quarter valued at $220,000. Blue Trust Inc. raised its holdings in shares of Tapestry by 107.0% in the 3rd quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after buying an additional 1,127 shares during the period. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry in the 3rd quarter valued at $25,000. Private Advisor Group LLC raised its holdings in shares of Tapestry by 18.7% in the 3rd quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock valued at $545,000 after buying an additional 1,828 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Tapestry in the 3rd quarter valued at $1,552,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 2.9 %

Tapestry stock opened at $86.65 on Friday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The company has a market capitalization of $17.94 billion, a P/E ratio of 25.12, a PEG ratio of 2.07 and a beta of 1.58. The stock has a 50-day simple moving average of $72.21 and a 200-day simple moving average of $56.14.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Evercore ISI boosted their target price on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Telsey Advisory Group boosted their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research note on Tuesday, October 29th. Finally, BMO Capital Markets boosted their target price on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

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.