Russell Investments Group Ltd. Sells 822 Shares of Tapestry Inc (NYSE:TPR)

Russell Investments Group Ltd. cut its holdings in Tapestry Inc (NYSE:TPR) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,840 shares of the luxury accessories retailer’s stock after selling 822 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Tapestry worth $4,135,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. boosted its stake in shares of Tapestry by 347.2% during the 2nd quarter. Prudential Financial Inc. now owns 4,946,057 shares of the luxury accessories retailer’s stock worth $156,938,000 after purchasing an additional 3,840,023 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Tapestry by 39,001.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,790,642 shares of the luxury accessories retailer’s stock worth $88,548,000 after purchasing an additional 2,783,505 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Tapestry by 28.5% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,326,188 shares of the luxury accessories retailer’s stock worth $169,000,000 after purchasing an additional 1,182,774 shares during the period. Holocene Advisors LP boosted its stake in shares of Tapestry by 1,872.8% during the 2nd quarter. Holocene Advisors LP now owns 979,960 shares of the luxury accessories retailer’s stock worth $31,094,000 after purchasing an additional 930,286 shares during the period. Finally, Natixis boosted its stake in shares of Tapestry by 6,554.9% during the 2nd quarter. Natixis now owns 909,994 shares of the luxury accessories retailer’s stock worth $28,874,000 after purchasing an additional 896,320 shares during the period. Hedge funds and other institutional investors own 93.81% of the company’s stock.

A number of research firms recently commented on TPR. Credit Suisse Group cut shares of Tapestry from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $22.00 in a research note on Thursday, August 15th. Barclays began coverage on shares of Tapestry in a research note on Tuesday, November 12th. They set an “equal weight” rating and a $27.00 price target for the company. ValuEngine cut shares of Tapestry from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Telsey Advisory Group cut shares of Tapestry from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th. Finally, Cowen cut shares of Tapestry from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.82.

Tapestry stock opened at $26.94 on Tuesday. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.82 and a quick ratio of 1.09. Tapestry Inc has a 1 year low of $18.54 and a 1 year high of $41.06. The firm has a 50-day moving average of $26.01 and a two-hundred day moving average of $27.49.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Research analysts expect that Tapestry Inc will post 2.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 6th will be given a $0.338 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.35 annualized dividend and a yield of 5.02%. Tapestry’s dividend payout ratio (DPR) is 52.53%.

Tapestry 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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