Signet Financial Management LLC Sells 352 Shares of Tapestry, Inc. (NYSE:TPR)

Signet Financial Management LLC reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 1.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,867 shares of the luxury accessories retailer’s stock after selling 352 shares during the quarter. Signet Financial Management LLC’s holdings in Tapestry were worth $1,063,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPR. Brown Brothers Harriman & Co. lifted its holdings in 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 purchasing an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC bought a new position in Tapestry during the 3rd quarter worth $26,000. Bell Investment Advisors Inc increased its position in Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares during the period. Canada Pension Plan Investment Board increased its position in 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 worth $41,000 after buying an additional 994 shares during the period. Finally, Quarry LP increased its position in Tapestry by 100.8% during the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after buying an additional 127,311 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of TPR stock opened at $40.87 on Wednesday. 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. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.84 and a beta of 1.57. 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 (NYSE:TPR) last announced its quarterly earnings results 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 return on equity of 41.75% and a net margin of 13.80%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm posted $1.36 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts forecast that Tapestry, Inc. will post 4.25 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s dividend payout ratio is currently 35.35%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TheStreet upgraded Tapestry from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Thursday, February 29th. Wells Fargo & Company raised their price target on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Raymond James raised their price target on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price 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.