Greenleaf Trust Sells 1,384 Shares of Tapestry, Inc. (NYSE:TPR)

Greenleaf Trust lowered its holdings in Tapestry, Inc. (NYSE:TPR) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,735 shares of the luxury accessories retailer’s stock after selling 1,384 shares during the quarter. Greenleaf Trust’s holdings in Tapestry were worth $211,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bell Investment Advisors Inc grew its position in shares of Tapestry by 718.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares during the last quarter. AllSquare Wealth Management LLC boosted its holdings in Tapestry by 35.1% during the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after buying an additional 423 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Tapestry by 56.9% during the third quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after purchasing an additional 668 shares in the last quarter. Allworth Financial LP raised its position in shares of 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 buying an additional 620 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Tapestry in the third quarter valued at about $63,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. OTR Global reiterated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Thursday, February 29th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Finally, Raymond James boosted their price objective on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average target price of $47.81.

Tapestry Price Performance

NYSE:TPR opened at $39.39 on Friday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth 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. The company’s 50-day moving average is $45.16 and its two-hundred day moving average is $37.84. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company posted $1.36 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts expect that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Announces Dividend

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

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.