<div id="readability-page-1"><p>Raymond James &amp; Associates cut its stake in shares of  Tapestry, Inc. (NYSE:TPR - Free Report) by 26.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 339,916 shares of the luxury accessories retailer's stock after selling 123,738 shares during the quarter. Raymond James &amp; Associates owned 0.15% of Tapestry worth $15,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).</p><ul><li>3 Consumer Discretionary Stocks Poised for Growth</li></ul><p>Several other hedge funds have also bought and sold shares of the stock. Mather Group LLC. lifted its position in  Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer's stock valued at $104,000 after purchasing an additional 249 shares during the last quarter.  Legend Financial Advisors Inc. lifted its position in  Tapestry by 1.9% during the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer's stock valued at $581,000 after purchasing an additional 257 shares during the last quarter.  Empirical Finance LLC lifted its position in  Tapestry by 3.3% during the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer's stock valued at $415,000 after purchasing an additional 276 shares during the last quarter.  GAMMA Investing LLC lifted its holdings in shares of  Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer's stock worth $286,000 after acquiring an additional 280 shares during the last quarter.  Finally, MUFG Securities EMEA plc lifted its holdings in shares of  Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock worth $52,000 after acquiring an additional 317 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors. </p><h2>Tapestry Stock Up 13.5 %</h2><p>Shares of NYSE TPR opened at $50.49 on Friday. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $51.58. The firm has a market capitalization of $11.60 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.67 and a beta of 1.53. The firm has a fifty day simple moving average of $43.54 and a two-hundred day simple moving average of $41.88. </p><ul><li>Retail Earnings: Value, Caution, and Luxury in a Shifting Market</li></ul><p>Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $0.95 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis.  Equities analysts expect that  Tapestry, Inc. will post 4.47 earnings per share for the current year. </p><h2>Tapestry Dividend Announcement</h2><p>The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a $0.35 dividend. The ex-dividend date  was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 2.77%. Tapestry's dividend payout ratio (DPR) is presently 37.04%. </p><h2>Wall Street Analysts Forecast Growth</h2><ul><li>Canada Goose Flies Higher Driven By DTC Growth</li></ul><p>A number of brokerages have recently weighed in on TPR. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $47.00 to $52.00 and gave the stock a &#34;buy&#34; rating in a report on Monday, October 21st. Bank of America boosted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a &#34;buy&#34; rating in a report on Friday. JPMorgan Chase &amp; Co. boosted their price objective on shares of Tapestry from $51.00 to $66.00 and gave the stock an &#34;overweight&#34; rating in a report on Friday. StockNews.com upgraded shares of Tapestry from a &#34;hold&#34; rating to a &#34;buy&#34; rating in a report on Wednesday, September 25th. Finally, Wells Fargo &amp; Company boosted their price objective on shares of Tapestry from $50.00 to $65.00 and gave the stock an &#34;overweight&#34; rating in a report on Friday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of &#34;Moderate Buy&#34; and an average target price of $51.73.</p><p><b>Get Our Latest Stock Report on Tapestry</b></p><h2>Tapestry Company Profile</h2> (Free Report)<p>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.</p><h2>Read More</h2><ul><li>Five stocks we like better than Tapestry</li><li>What is an Earnings Surprise?  </li><li>Lam Research Proves Analysts Wrong with a Strong Earnings Report</li><li>3 Fintech Stocks With Good 2021 Prospects</li><li>PureCycle: Up 250% in 2024 - Is This Materials Stock Still a Buy?</li><li>The 3 Best Fintech Stocks to Buy Now</li><li>MarketBeat Week in Review – 10/21- 10/25</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVRQUg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVRQUg"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. 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<p>Raymond James & Associates reduced its stake in Tapestry, Inc. (NYSE:TPR) by 26.7% in Q3, selling 123,738 shares. Post-sale, they hold 339,916 shares valued at approximately $4.97 million. Other hedge funds have also adjusted their positions in Tapestry. The stock has seen a 13.5% increase recently, with a current market cap of $6.60 billion. Tapestry reported a quarterly EPS of $0.92, exceeding estimates, and announced a quarterly dividend of $0.35, yielding 2.77%. Analysts have generally upgraded their ratings on Tapestry shares.</p>

Raymond James & Associates Sells 123,738 Shares of Tapestry, Inc. (NYSE:TPR)