Clifford Swan Investment Counsel LLC Sells 982 Shares of Tapestry, Inc. (NYSE:TPR)

Clifford Swan Investment Counsel LLC cut its holdings in Tapestry, Inc. (NYSE:TPR) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 103,794 shares of the luxury accessories retailer’s stock after selling 982 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Tapestry were worth $3,821,000 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 business. Bell Investment Advisors Inc lifted its holdings in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after purchasing an additional 833 shares in the last quarter. AllSquare Wealth Management LLC raised its position in Tapestry by 35.1% in the 3rd 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 during the last quarter. Parkside Financial Bank & Trust lifted its stake in Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after acquiring an additional 668 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Tapestry by 334.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after acquiring an additional 1,158 shares during the last quarter. Finally, Allworth Financial LP grew its stake 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 worth $60,000 after acquiring an additional 620 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

Shares of TPR stock traded up $0.24 during trading hours on Monday, hitting $39.48. The stock had a trading volume of 3,308,632 shares, compared to its average volume of 3,810,358. 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 price-to-earnings ratio of 9.91, a PEG ratio of 0.81 and a beta of 1.61. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The stock’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $38.47.

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

Tapestry Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPR shares. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and increased their target price for the company from $30.00 to $50.00 in a report on Monday, February 5th. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Thursday, February 29th. Raymond James raised their price objective on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, Wells Fargo & Company raised their price objective on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.81.

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.