Rakuten Securities Inc. Takes Position in Tapestry, Inc. (NYSE:TPR)

Rakuten Securities Inc. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,343 shares of the luxury accessories retailer’s stock, valued at approximately $197,000.

Several other large investors have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. grew its stake in Tapestry by 340.7% in the first quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 511 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Tapestry in the third quarter worth $26,000. Bell Investment Advisors Inc boosted its holdings in Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Tapestry by 955.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 994 shares in the last quarter. Finally, Quarry LP boosted its holdings in Tapestry by 100.8% in the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 127,311 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Performance

TPR stock traded up $0.03 during trading on Wednesday, reaching $40.86. The stock had a trading volume of 4,288,002 shares, compared to its average volume of 3,523,511. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The stock’s 50 day moving average is $45.56 and its two-hundred day moving average is $37.38. The firm has a market cap of $9.37 billion, a PE ratio of 10.32, a PEG ratio of 0.84 and a beta of 1.57. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, March 7th. Tapestry’s payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. TheStreet raised Tapestry from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Wells Fargo & Company upped their price target on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.81.

About Tapestry

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.