27,152 Shares in Tapestry Inc (TPR) Acquired by Caxton Associates LP
Caxton Associates LP bought a new position in shares of Tapestry Inc (NYSE:TPR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,152 shares of the luxury accessories retailer’s stock, valued at approximately $916,000.
Several other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Tapestry by 2.6% during the fourth quarter. Bessemer Group Inc. now owns 14,369 shares of the luxury accessories retailer’s stock worth $485,000 after purchasing an additional 364 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Tapestry by 21.2% in the fourth quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 366 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Tapestry by 18.0% in the fourth quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after acquiring an additional 384 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Tapestry by 1.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,466 shares of the luxury accessories retailer’s stock valued at $859,000 after acquiring an additional 410 shares in the last quarter. Finally, E&G Advisors LP raised its holdings in shares of Tapestry by 8.5% in the fourth quarter. E&G Advisors LP now owns 6,400 shares of the luxury accessories retailer’s stock valued at $216,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.
Several analysts recently weighed in on TPR shares. Guggenheim restated a “buy” rating and issued a $52.00 price objective on shares of Tapestry in a report on Tuesday, January 29th. Wells Fargo & Co decreased their price objective on Tapestry from $58.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, January 2nd. Canaccord Genuity restated a “buy” rating and issued a $58.00 price objective on shares of Tapestry in a report on Tuesday, February 5th. Barclays upgraded Tapestry from an “equal weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Friday, January 11th. Finally, Macquarie set a $40.00 price objective on Tapestry and gave the company a “hold” rating in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. Tapestry has an average rating of “Buy” and a consensus price target of $50.00.
Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). Tapestry had a net margin of 12.18% and a return on equity of 23.84%. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the firm earned $1.07 EPS. Tapestry’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts predict that Tapestry Inc will post 2.6 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $0.3375 dividend. The ex-dividend date is Thursday, March 7th. This represents a $1.35 annualized dividend and a yield of 4.19%. Tapestry’s dividend payout ratio (DPR) is presently 51.33%.
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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.
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