Maven Securities LTD Makes New $204,000 Investment in Tapestry, Inc. (NYSE:TPR)

Maven Securities LTD purchased a new position in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,120 shares of the luxury accessories retailer’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Tapestry by 8.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,513 shares of the luxury accessories retailer’s stock valued at $4,280,000 after purchasing an additional 5,251 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Tapestry in the 4th quarter valued at about $278,000. Interval Partners LP lifted its stake in shares of Tapestry by 59.5% in the 4th quarter. Interval Partners LP now owns 1,179,585 shares of the luxury accessories retailer’s stock valued at $77,062,000 after purchasing an additional 439,875 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Tapestry by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 113,637 shares of the luxury accessories retailer’s stock valued at $7,427,000 after purchasing an additional 534 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Tapestry in the 4th quarter valued at about $562,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

TPR stock opened at $83.05 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The stock’s 50 day moving average is $70.06 and its two-hundred day moving average is $68.54. The company has a market capitalization of $17.19 billion, a PE ratio of 24.07, a P/E/G ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $0.81 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.69%. Tapestry’s dividend payout ratio (DPR) is 36.84%.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the completion of the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. The trade was a 25.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 1,399 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the transaction, the vice president now owns 40,922 shares of the company’s stock, valued at $3,350,693.36. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,936 shares of company stock worth $9,101,139 in the last 90 days. 1.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TPR has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird raised their target price on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Jefferies Financial Group raised their target price on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays raised their target price on Tapestry from $83.00 to $98.00 and gave the company an “overweight” rating in a report on Monday. Finally, StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $83.89.

About Tapestry

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.