Quadrature Capital Ltd Acquires Shares of 53,257 Tapestry, Inc. (NYSE:TPR)

Quadrature Capital Ltd acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 53,257 shares of the luxury accessories retailer’s stock, valued at approximately $2,529,000.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in Tapestry during the 4th quarter valued at approximately $117,000. Raymond James Financial Services Advisors Inc. grew its holdings in Tapestry by 9.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock valued at $10,527,000 after buying an additional 23,532 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in Tapestry during the 4th quarter valued at approximately $1,107,000. Bessemer Group Inc. grew its holdings in Tapestry by 1,328.8% during the 1st quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock valued at $1,432,000 after buying an additional 28,038 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Tapestry by 41.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,272,950 shares of the luxury accessories retailer’s stock valued at $46,857,000 after buying an additional 371,724 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Up 3.0 %

Shares of NYSE:TPR traded up $1.17 on Friday, hitting $40.82. 2,380,018 shares of the company’s stock were exchanged, compared to its average volume of 2,087,065. 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 $9.38 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.83 and a beta of 1.59. The business’s 50 day simple moving average is $42.02 and its two-hundred day simple moving average is $42.44. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts anticipate that Tapestry, Inc. will post 4.24 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were issued a $0.35 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.43%. Tapestry’s payout ratio is currently 37.04%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Friday, July 19th. Wells Fargo & Company cut their target price on shares of Tapestry from $55.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Robert W. Baird cut their target price on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Argus reissued a “buy” rating and issued a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.06.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 2,500 shares of Tapestry stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of the sale, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Tapestry Company 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.