Welch & Forbes LLC Has $217,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Welch & Forbes LLC trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 23.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,900 shares of the luxury accessories retailer’s stock after selling 1,800 shares during the period. Welch & Forbes LLC’s holdings in Tapestry were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TPR. Bell Investment Advisors Inc increased its stake in shares of Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares during the last quarter. AllSquare Wealth Management LLC raised its stake in shares of Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after purchasing an additional 423 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after buying an additional 668 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Tapestry by 334.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after buying an additional 1,158 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Tapestry by 62.0% in the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock valued at $60,000 after acquiring an additional 620 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a research note on Wednesday, March 27th. The Goldman Sachs Group upped their price target on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Raymond James increased their price objective on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

Tapestry Price Performance

Shares of TPR stock traded down $0.14 during trading hours on Wednesday, hitting $38.85. The company had a trading volume of 1,286,073 shares, compared to its average volume of 3,797,142. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 0.81 and a beta of 1.61. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The firm’s fifty day moving average is $43.95 and its 200 day moving average is $38.62.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share 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 analysts’ expectations of $2.05 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.60%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

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.