Signet Financial Management LLC Reduces Holdings in Tapestry, Inc. (NYSE:TPR)

Signet Financial Management LLC lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,867 shares of the luxury accessories retailer’s stock after selling 352 shares during the period. Signet Financial Management LLC’s holdings in Tapestry were worth $1,063,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TPR. Brown Brothers Harriman & Co. lifted its position in shares of Tapestry by 340.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new position in shares of Tapestry during the 3rd quarter valued at $26,000. Bell Investment Advisors Inc lifted its position in shares of Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after buying an additional 833 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after buying an additional 994 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Tapestry by 100.8% during the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock valued at $41,000 after buying an additional 127,311 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of Tapestry stock opened at $40.87 on Wednesday. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The firm 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. The business’s 50-day moving average price is $45.56 and its 200-day moving average price is $37.38. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.46 by $0.17. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.25 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.43%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

A number of analysts recently issued reports on TPR shares. Wells Fargo & Company increased their price objective on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Telsey Advisory Group reissued an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Finally, The Goldman Sachs Group increased their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price 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.