Hayden Royal LLC purchased a new stake in shares of Tapestry Inc (NYSE:TPR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,882 shares of the luxury accessories retailer’s stock, valued at approximately $259,000.
A number of other large investors have also recently modified their holdings of the business. Claybrook Capital LLC bought a new position in Tapestry in the 4th quarter worth $34,000. Oregon Public Employees Retirement Fund lifted its position in shares of Tapestry by 1,484.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock valued at $36,000 after acquiring an additional 1,136,452 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Tapestry by 47.1% in the fourth quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock worth $46,000 after acquiring an additional 440 shares during the period. Pearl River Capital LLC bought a new position in shares of Tapestry in the fourth quarter worth about $66,000. Finally, Moody National Bank Trust Division grew its position in shares of Tapestry by 21.2% during the fourth quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 366 shares in the last quarter. 90.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:TPR traded down $0.36 on Monday, reaching $33.89. The company’s stock had a trading volume of 42,633 shares, compared to its average volume of 4,019,207. Tapestry Inc has a 52-week low of $30.69 and a 52-week high of $55.50. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.93 billion, a P/E ratio of 12.87, a PEG ratio of 1.23 and a beta of 0.72.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a dividend of $0.3375 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.35 annualized dividend and a yield of 3.98%. Tapestry’s payout ratio is currently 51.33%.
Several analysts recently issued reports on TPR shares. Barclays raised Tapestry from an “equal weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research note on Friday, January 11th. Wells Fargo & Co dropped their price target on Tapestry from $58.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, January 2nd. ValuEngine lowered shares of Tapestry from a “sell” rating to a “strong sell” rating in a report on Friday, February 8th. Zacks Investment Research cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Consumer Edge raised shares of Tapestry from a “neutral” rating to an “outperform” rating in a report on Thursday, February 7th. 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 company’s stock. The company presently has an average rating of “Buy” and an average target price of $50.00.
Tapestry Company Profile
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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