LMR Partners LLP Takes $229,000 Position in Tapestry, Inc. (TPR)
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.
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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.
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