Sciencast Management LP boosted its holdings in shares of Tapestry Inc (NYSE:TPR) by 44.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,900 shares of the luxury accessories retailer’s stock after buying an additional 7,100 shares during the quarter. Sciencast Management LP’s holdings in Tapestry were worth $761,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of TPR. Bessemer Group Inc. grew its position in shares of Tapestry by 2.6% in the fourth quarter. Bessemer Group Inc. now owns 14,369 shares of the luxury accessories retailer’s stock valued at $485,000 after purchasing an additional 364 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of Tapestry by 21.2% in the fourth quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 366 shares during the last quarter. ETF Managers Group LLC grew its position in shares of Tapestry by 18.0% in the fourth quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after purchasing an additional 384 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Tapestry by 1.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,466 shares of the luxury accessories retailer’s stock valued at $859,000 after purchasing an additional 410 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Tapestry by 47.1% in the fourth quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 440 shares during the last quarter. 90.87% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $58.00 price target on shares of Tapestry in a research report on Tuesday, February 5th. Zacks Investment Research downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Guggenheim reissued a “buy” rating and set a $52.00 target price on shares of Tapestry in a research report on Tuesday, January 29th. Wolfe Research raised Tapestry from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 25th. Finally, Barclays raised Tapestry from an “equal weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $49.75.
Shares of TPR opened at $32.26 on Wednesday. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.94. Tapestry Inc has a 12 month low of $30.69 and a 12 month high of $55.50.
Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.04). The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, sell-side analysts anticipate that Tapestry Inc will post 2.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio is 51.33%.
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Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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