Clifford Swan Investment Counsel LLC Has $3.82 Million Position in Tapestry, Inc. (NYSE:TPR)

Clifford Swan Investment Counsel LLC cut its position in Tapestry, Inc. (NYSE:TPR) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,794 shares of the luxury accessories retailer’s stock after selling 982 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Tapestry were worth $3,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. FDx Advisors Inc. grew its stake in shares of Tapestry by 34.5% in the third quarter. FDx Advisors Inc. now owns 8,735 shares of the luxury accessories retailer’s stock valued at $251,000 after acquiring an additional 2,240 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Tapestry by 9.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock valued at $10,527,000 after purchasing an additional 23,532 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Tapestry during the 4th quarter worth approximately $1,107,000. Assenagon Asset Management S.A. increased its holdings in shares of Tapestry by 189.5% during the third quarter. Assenagon Asset Management S.A. now owns 228,045 shares of the luxury accessories retailer’s stock worth $6,556,000 after purchasing an additional 149,268 shares during the period. Finally, FCF Advisors LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $1,013,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research note on Wednesday, March 27th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Raymond James upped their price target on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.81.

Tapestry Price Performance

TPR stock traded up $0.24 during midday trading on Monday, reaching $39.48. 3,308,632 shares of the stock were exchanged, compared to its average volume of 3,810,358. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a fifty day moving average price of $44.29 and a 200 day moving average price of $38.47. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The stock has a market capitalization of $9.06 billion, a PE ratio of 9.91, a P/E/G ratio of 0.81 and a beta of 1.61.

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

Tapestry Announces Dividend

The firm also recently declared 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. This represents a $1.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, March 7th. Tapestry’s payout ratio is currently 35.35%.

About Tapestry

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.