2,833 Shares in Tapestry, Inc. (NYSE:TPR) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,833 shares of the luxury accessories retailer’s stock, valued at approximately $110,000.

A number of other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC bought a new position in Tapestry during the 3rd quarter worth about $118,000. Czech National Bank grew its holdings in Tapestry by 47.6% during the 3rd quarter. Czech National Bank now owns 40,514 shares of the luxury accessories retailer’s stock worth $1,165,000 after acquiring an additional 13,073 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Tapestry by 9.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 39,632 shares of the luxury accessories retailer’s stock worth $1,139,000 after acquiring an additional 3,540 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Tapestry during the 3rd quarter worth about $86,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Tapestry by 30.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 12,014 shares of the luxury accessories retailer’s stock worth $345,000 after acquiring an additional 2,788 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $40.05 on Monday. The firm’s 50 day simple moving average is $45.04 and its 200-day simple moving average is $38.07. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.82 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts expect that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. Tapestry’s dividend payout ratio is currently 35.35%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and increased their price target for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Wells Fargo & Company increased their price target on shares of Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Thursday, February 29th. The Goldman Sachs Group increased their price target on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Profile

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.