DekaBank Deutsche Girozentrale Has $2.66 Million Position in Tapestry, Inc. (NYSE:TPR)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale lessened its stake in Tapestry, Inc. (NYSE:TPR – Get Rating) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,604 shares of the luxury accessories retailer’s stock after selling 2,394 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Tapestry were worth $2,655,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Tapestry by 2.4% in the first quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock valued at $1,213,109,000 after purchasing an additional 751,210 shares in the last quarter. BlackRock Inc. lifted its position in Tapestry by 0.5% during the 3rd quarter. BlackRock Inc. now owns 14,732,760 shares of the luxury accessories retailer’s stock worth $418,851,000 after buying an additional 80,203 shares in the last quarter. Alliancebernstein L.P. boosted its position in Tapestry by 10.8% during the third quarter. Alliancebernstein L.P. now owns 6,370,180 shares of the luxury accessories retailer’s stock valued at $181,104,000 after purchasing an additional 623,046 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Tapestry by 14.3% in the third quarter. Lazard Asset Management LLC now owns 5,437,645 shares of the luxury accessories retailer’s stock valued at $154,591,000 after buying an additional 678,867 shares in the last quarter. Finally, Samlyn Capital LLC increased its stake in shares of Tapestry by 15.7% during the 3rd quarter. Samlyn Capital LLC now owns 3,495,221 shares of the luxury accessories retailer’s stock worth $99,369,000 after purchasing an additional 475,274 shares during the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research analyst reports. Raymond James increased their price target on Tapestry from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. UBS Group cut their target price on Tapestry from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, March 29th. Citigroup lifted their price target on shares of Tapestry from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Sanford C. Bernstein lowered Tapestry from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 5th. Finally, Robert W. Baird boosted their target price on shares of Tapestry from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

Tapestry Stock Down 1.9 %

Shares of NYSE:TPR opened at $42.29 on Friday. Tapestry, Inc. has a 1 year low of $26.39 and a 1 year high of $47.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.87 and a quick ratio of 1.14. The business’s 50-day moving average is $42.30 and its 200-day moving average is $38.89. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.89 and a beta of 1.44.

Tapestry (NYSE:TPR – Get Rating) last issued its quarterly earnings results on Thursday, February 9th. The luxury accessories retailer reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.09. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.04 billion. Tapestry had a return on equity of 36.58% and a net margin of 12.69%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. Equities research analysts predict that Tapestry, Inc. will post 3.72 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 27th. Shareholders of record on Friday, March 10th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, March 9th. Tapestry’s dividend payout ratio (DPR) is currently 35.71%.

Tapestry Company Profile

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Tapestry, Inc engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment consists of global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors.