V Square Quantitative Management LLC Sells 1,213 Shares of Tapestry, Inc. (NYSE:TPR)

V Square Quantitative Management LLC decreased its position in Tapestry, Inc. (NYSE:TPR) by 19.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,929 shares of the luxury accessories retailer’s stock after selling 1,213 shares during the quarter. V Square Quantitative Management LLC’s holdings in Tapestry were worth $322,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after purchasing an additional 30,121 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tapestry in the 3rd quarter worth approximately $5,446,000. Valley Wealth Managers Inc. lifted its holdings in Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after purchasing an additional 8,833 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in Tapestry in the 4th quarter worth approximately $3,437,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after purchasing an additional 219,544 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of several analyst reports. Barclays boosted their target price on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. The Goldman Sachs Group boosted their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI upped their price target on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.78.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $87.68 on Monday. The business’s fifty day moving average price is $70.11 and its two-hundred day moving average price is $55.00. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $88.07. The stock has a market capitalization of $20.43 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 4.38.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business earned $1.63 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.7 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is 40.58%.

Tapestry Company 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.