O Shaughnessy Asset Management LLC Has $2.41 Million Holdings in Tapestry, Inc. (NYSE:TPR)

O Shaughnessy Asset Management LLC lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 66.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 50,681 shares of the luxury accessories retailer’s stock after selling 100,647 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Tapestry were worth $2,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TPR. Fidelis Capital Partners LLC acquired a new stake in Tapestry during the 1st quarter valued at approximately $35,000. BNP Paribas acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its position in shares of Tapestry by 3,778.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 1,209 shares during the period. First Horizon Advisors Inc. grew its position in shares of Tapestry by 334.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock worth $55,000 after buying an additional 1,158 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Tapestry by 130.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer’s stock worth $55,000 after buying an additional 848 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TPR shares. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Wells Fargo & Company reduced their price target on shares of Tapestry from $55.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Robert W. Baird reduced their price target on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Bernstein Bank lifted their price target on shares of Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $48.06.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $42.23, for a total transaction of $105,575.00. Following the sale, the vice president now directly owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.93% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $39.84 on Thursday. The company’s 50-day moving average is $42.11 and its 200 day moving average is $42.41. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59. The company has a market capitalization of $9.15 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.83 and a beta of 1.59. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.24 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, June 7th. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.