Tapestry Inc (NYSE:TPR) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in shares of Tapestry Inc (NYSE:TPR) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,880 shares of the luxury accessories retailer’s stock after selling 719 shares during the period. Amalgamated Bank’s holdings in Tapestry were worth $1,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Tapestry by 39.8% in the 3rd quarter. SG Americas Securities LLC now owns 31,218 shares of the luxury accessories retailer’s stock valued at $1,569,000 after buying an additional 8,880 shares during the last quarter. Bank of New York Mellon Corp raised its position in Tapestry by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,889,240 shares of the luxury accessories retailer’s stock valued at $195,512,000 after buying an additional 28,796 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Tapestry by 16.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 75,040 shares of the luxury accessories retailer’s stock valued at $3,773,000 after buying an additional 10,501 shares during the last quarter. Martingale Asset Management L P raised its position in Tapestry by 253.8% in the 3rd quarter. Martingale Asset Management L P now owns 26,235 shares of the luxury accessories retailer’s stock valued at $1,319,000 after buying an additional 18,820 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Tapestry in the 3rd quarter valued at approximately $584,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Shares of NYSE TPR traded up $0.85 during midday trading on Friday, hitting $31.65. 3,696,040 shares of the company’s stock were exchanged, compared to its average volume of 4,202,757. The company has a current ratio of 2.62, a quick ratio of 1.94 and a debt-to-equity ratio of 0.46. Tapestry Inc has a 12 month low of $30.05 and a 12 month high of $55.50. The company has a market capitalization of $9.06 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.10 and a beta of 0.71.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.04). Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. Analysts predict that Tapestry Inc will post 2.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.35 annualized dividend and a dividend yield of 4.27%. Tapestry’s dividend payout ratio is currently 51.33%.

A number of equities research analysts recently issued reports on TPR shares. KeyCorp dropped their target price on Tapestry from $62.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, February 8th. They noted that the move was a valuation call. Cowen dropped their target price on Tapestry from $62.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, February 8th. They noted that the move was a valuation call. Guggenheim reissued a “buy” rating and issued a $52.00 target price on shares of Tapestry in a research report on Tuesday, January 29th. Zacks Investment Research raised Tapestry from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Thursday, April 11th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $58.00 target price on shares of Tapestry in a research report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $49.75.

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Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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