Yousif Capital Management LLC Sells 3,356 Shares of Tapestry, Inc. (NYSE:TPR)

Posted by Defense World Staff on Aug 1st, 2023

Yousif Capital Management LLC cut its stake in shares of Tapestry, Inc. (NYSE:TPR – Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,369 shares of the luxury accessories retailer’s stock after selling 3,356 shares during the period. Yousif Capital Management LLC’s holdings in Tapestry were worth $1,611,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its position in Tapestry by 340.7% during the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new stake in shares of Tapestry in the 3rd quarter valued at $26,000. Allworth Financial LP boosted its holdings in shares of Tapestry by 196.8% in the 1st quarter. Allworth Financial LP now owns 659 shares of the luxury accessories retailer’s stock valued at $28,000 after purchasing an additional 437 shares in the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $41,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 994 shares in the last quarter. 92.63% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

Shares of Tapestry stock opened at $43.15 on Tuesday. Tapestry, Inc. has a one year low of $27.53 and a one year high of $47.48. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.83 and a beta of 1.46. The business has a 50-day simple moving average of $42.60 and a 200 day simple moving average of $42.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.12.

Tapestry (NYSE:TPR – Get Free Report) last issued its quarterly earnings data on Thursday, May 11th. The luxury accessories retailer reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.44 billion. Tapestry had a return on equity of 39.88% and a net margin of 13.51%. During the same period in the previous year, the company posted $0.51 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 3.88 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Shareholders of record on Friday, June 9th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, June 8th. Tapestry’s dividend payout ratio is currently 32.61%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein raised Tapestry from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $55.00 in a report on Monday, May 15th. StockNews.com started coverage on Tapestry in a report on Thursday, May 18th. They set a “buy” rating on the stock. OTR Global downgraded Tapestry to a “positive” rating in a report on Wednesday, July 19th. Finally, Barclays raised Tapestry from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $47.00 to $59.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Tapestry Profile

(Free Report)

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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.