Crew Capital Management Ltd. Buys Shares of 5,710 Tapestry, Inc. (NYSE:TPR)

Crew Capital Management Ltd. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,710 shares of the luxury accessories retailer’s stock, valued at approximately $210,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Tapestry by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after acquiring an additional 173,111 shares in the last quarter. FMR LLC raised its position in shares of Tapestry by 2.0% during the 3rd quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock worth $403,032,000 after purchasing an additional 280,959 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Tapestry by 4.7% during the 3rd quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock worth $196,183,000 after purchasing an additional 305,658 shares during the last quarter. Ninety One UK Ltd grew its holdings in Tapestry by 12.7% during the 4th quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock valued at $195,877,000 after buying an additional 597,715 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Tapestry by 28.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock valued at $150,916,000 after purchasing an additional 1,154,808 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 2.3 %

Shares of NYSE:TPR traded up $0.91 during mid-day trading on Monday, hitting $40.96. 4,161,316 shares of the company traded hands, compared to its average volume of 3,812,273. The firm’s 50 day simple moving average is $45.04 and its 200 day simple moving average is $38.07. The firm has a market cap of $9.39 billion, a P/E ratio of 10.11, a PEG ratio of 0.82 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, equities analysts anticipate that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.42%. Tapestry’s payout ratio is currently 35.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TPR shares. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Thursday, February 29th. OTR Global restated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Raymond James increased their price target on shares of Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry 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.