Duality Advisers LP Sells 146,302 Shares of Tapestry, Inc. (NYSE:TPR)

Duality Advisers LP lowered its position in Tapestry, Inc. (NYSE:TPR) by 91.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,365 shares of the luxury accessories retailer’s stock after selling 146,302 shares during the period. Duality Advisers LP’s holdings in Tapestry were worth $529,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Raleigh Capital Management Inc. increased its holdings in shares of Tapestry by 5.7% in the third quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock valued at $157,000 after purchasing an additional 297 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Tapestry by 0.3% in the third quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock valued at $3,158,000 after purchasing an additional 353 shares in the last quarter. Sowell Financial Services LLC increased its holdings in shares of Tapestry by 2.1% in the third quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer’s stock valued at $527,000 after purchasing an additional 381 shares in the last quarter. AllSquare Wealth Management LLC grew its holdings in 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 acquiring an additional 423 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Tapestry by 23.1% during the 4th quarter. Federated Hermes Inc. now owns 2,648 shares of the luxury accessories retailer’s stock worth $97,000 after acquiring an additional 497 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $39.39 on Friday. The firm has a market cap of $9.03 billion, a PE ratio of 9.95, a PEG ratio of 0.81 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, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The company has a fifty day moving average price of $45.16 and a 200 day moving average price of $37.84.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. Research analysts predict that Tapestry, Inc. will post 4.23 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.55%. Tapestry’s dividend payout ratio is 35.35%.

Analyst Ratings Changes

A number of research firms have commented on TPR. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $50.00 in a report on Monday, February 5th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Raymond James lifted their target price on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Thursday, February 29th. Finally, StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry 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.