Northwestern Mutual Investment Management Company LLC Sells 1,878 Shares of Tapestry, Inc. (NYSE:TPR)

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Northwestern Mutual Investment Management Company LLC reduced its position in shares of Tapestry, Inc. (NYSE:TPR – Get Rating) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,500 shares of the luxury accessories retailer’s stock after selling 1,878 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Tapestry were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TPR. GSA Capital Partners LLP grew its holdings in shares of Tapestry by 74.2% in the fourth quarter. GSA Capital Partners LLP now owns 15,379 shares of the luxury accessories retailer’s stock valued at $624,000 after acquiring an additional 6,550 shares in the last quarter. abrdn plc grew its holdings in Tapestry by 2.5% during the fourth quarter. abrdn plc now owns 91,744 shares of the luxury accessories retailer’s stock valued at $3,725,000 after purchasing an additional 2,264 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Tapestry by 314.3% during the first quarter. Cullen Frost Bankers Inc. now owns 5,800 shares of the luxury accessories retailer’s stock valued at $215,000 after purchasing an additional 4,400 shares during the period. Ausdal Financial Partners Inc. grew its holdings in Tapestry by 17.7% during the first quarter. Ausdal Financial Partners Inc. now owns 18,654 shares of the luxury accessories retailer’s stock valued at $693,000 after purchasing an additional 2,800 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Tapestry by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,035,577 shares of the luxury accessories retailer’s stock valued at $82,645,000 after purchasing an additional 9,632 shares during the period. 89.75% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Up 0.5 %

NYSE TPR opened at $35.69 on Monday. The business’s 50-day moving average is $32.72 and its 200 day moving average is $34.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.48 and a quick ratio of 0.95. The stock has a market capitalization of $8.99 billion, a PE ratio of 11.51, a PEG ratio of 0.72 and a beta of 1.36. Tapestry, Inc. has a 1 year low of $26.39 and a 1 year high of $47.05.

Tapestry (NYSE:TPR – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The luxury accessories retailer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.11. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Tapestry had a return on equity of 32.07% and a net margin of 12.99%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 3.46 earnings per share for the current year.

Tapestry announced that its board has authorized a stock buyback plan on Thursday, May 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to repurchase up to 18% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TheStreet lowered Tapestry from a “b” rating to a “c+” rating in a report on Friday, May 20th. BTIG Research cut their price target on Tapestry from $53.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, July 21st. Citigroup cut their price target on Tapestry from $50.00 to $46.00 in a report on Friday, May 13th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th. Finally, Wells Fargo & Company lowered their price objective on Tapestry from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.18.

Tapestry Company Profile

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Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company 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.

Tapestry Stock Up 0.5 %

Analysts Set New Price Targets

Tapestry Company Profile

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