Jefferies Group LLC bought a new position in Tapestry Inc (NYSE:TPR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 77,903 shares of the luxury accessories retailer’s stock, valued at approximately $3,916,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aperio Group LLC lifted its position in Tapestry by 7.6% during the second quarter. Aperio Group LLC now owns 166,788 shares of the luxury accessories retailer’s stock valued at $7,791,000 after purchasing an additional 11,765 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Tapestry by 10.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,297 shares of the luxury accessories retailer’s stock valued at $1,135,000 after purchasing an additional 2,275 shares during the period. Commonwealth Equity Services LLC lifted its position in Tapestry by 11.3% during the second quarter. Commonwealth Equity Services LLC now owns 21,956 shares of the luxury accessories retailer’s stock valued at $1,026,000 after purchasing an additional 2,225 shares during the period. Cognios Capital LLC lifted its position in Tapestry by 12.4% during the second quarter. Cognios Capital LLC now owns 55,558 shares of the luxury accessories retailer’s stock valued at $2,593,000 after purchasing an additional 6,118 shares during the period. Finally, First Trust Advisors LP bought a new position in Tapestry during the second quarter valued at approximately $5,621,000. Hedge funds and other institutional investors own 89.26% of the company’s stock.
Shares of NYSE TPR opened at $35.34 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.74 and a quick ratio of 1.83. The firm has a market capitalization of $10.89 billion, a PE ratio of 13.44, a PEG ratio of 1.20 and a beta of 0.62. Tapestry Inc has a 1 year low of $35.16 and a 1 year high of $55.50.
Tapestry (NYSE:TPR) last announced its quarterly earnings data on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, research analysts predict that Tapestry Inc will post 2.78 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a $0.338 dividend. The ex-dividend date is Thursday, December 6th. This is a boost from Tapestry’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 3.83%. Tapestry’s dividend payout ratio is 51.33%.
A number of brokerages recently weighed in on TPR. Canaccord Genuity increased their price objective on shares of Tapestry from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, August 15th. Goldman Sachs Group set a $61.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Wednesday, August 15th. Wells Fargo & Co reiterated a “buy” rating on shares of Tapestry in a research report on Tuesday, August 14th. Finally, Loop Capital set a $59.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $53.07.
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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.
Further Reading: What is an SEC Filing?
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