Camelot Portfolios LLC Trims Stock Position in Tapestry, Inc. (NYSE:TPR)

Camelot Portfolios LLC trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 9.0% in the fourth quarter, Holdings Channel reports. The firm owned 8,804 shares of the luxury accessories retailer’s stock after selling 875 shares during the period. Camelot Portfolios LLC’s holdings in Tapestry were worth $575,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry in the third quarter valued at $25,000. Venturi Wealth Management LLC grew its holdings in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Tapestry during the 3rd quarter valued at approximately $47,000. Deseret Mutual Benefit Administrators lifted its position in Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after purchasing an additional 1,591 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday. Citigroup increased their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Telsey Advisory Group increased 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. Finally, Morgan Stanley restated an “equal weight” rating and issued a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Performance

NYSE TPR opened at $84.60 on Friday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a 50 day moving average of $72.63 and a 200-day moving average of $56.48. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 period last year, the business earned $1.63 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.65%. Tapestry’s payout ratio is presently 40.58%.

Insider Buying and Selling

In related news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.18% of the stock is currently owned by corporate insiders.

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.