LMR Partners LLP acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,685 shares of the luxury accessories retailer’s stock, valued at approximately $229,000.

Separately, Point View Wealth Management Inc. acquired a new position in Tapestry in the third quarter valued at approximately $552,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

In other news, SVP Melinda Brown sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $41.28, for a total transaction of $340,560.00. Following the completion of the sale, the senior vice president now owns 42,884 shares in the company, valued at $1,770,251.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

Tapestry, Inc. (TPR) traded up $0.06 during trading on Wednesday, hitting $40.65. The stock had a trading volume of 3,987,900 shares, compared to its average volume of 3,401,200. Tapestry, Inc. has a twelve month low of $34.16 and a twelve month high of $48.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.74 and a quick ratio of 1.25. The stock has a market capitalization of $11,560.00, a PE ratio of 19.18, a PEG ratio of 1.54 and a beta of 0.45.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. sell-side analysts expect that Tapestry, Inc. will post 2.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, December 7th. Tapestry’s dividend payout ratio (DPR) is presently 83.85%.

TPR has been the subject of a number of research analyst reports. Vetr downgraded Tapestry from a “hold” rating to a “sell” rating and set a $45.98 price target for the company. in a report on Monday, August 7th. BMO Capital Markets set a $42.00 price target on Tapestry and gave the company a “hold” rating in a report on Tuesday, August 8th. UBS reiterated a “buy” rating and issued a $50.00 price objective (down previously from $55.00) on shares of Tapestry in a research note on Friday, August 11th. Oppenheimer set a $55.00 price objective on Tapestry and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, Royal Bank Of Canada reduced their price objective on Tapestry from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $47.70.

TRADEMARK VIOLATION NOTICE: This article was originally published by Daily Political and is owned by of Daily Political. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.dailypolitical.com/2017/11/29/lmr-partners-llp-takes-229000-position-in-tapestry-inc-tpr.html.

Tapestry Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR).

Receive News & Ratings for Tapestry Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry Inc. and related companies with MarketBeat.com's FREE daily email newsletter.