Quantbot Technologies LP Makes New $4.25 Million Investment in Tapestry, Inc. $TPR

Quantbot Technologies LP acquired a new position in Tapestry, Inc. (NYSE:TPR) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 60,411 shares of the luxury accessories retailer’s stock, valued at approximately $4,254,000.

A number of other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in shares of Tapestry by 30.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 13,643 shares of the luxury accessories retailer’s stock worth $882,000 after purchasing an additional 3,155 shares during the last quarter. Mariner LLC raised its position in shares of Tapestry by 10.5% during the 4th quarter. Mariner LLC now owns 39,486 shares of the luxury accessories retailer’s stock worth $2,580,000 after purchasing an additional 3,736 shares during the last quarter. GeoWealth Management LLC raised its position in shares of Tapestry by 90.4% during the 4th quarter. GeoWealth Management LLC now owns 6,993 shares of the luxury accessories retailer’s stock worth $457,000 after purchasing an additional 3,320 shares during the last quarter. Forum Financial Management LP acquired a new position in shares of Tapestry during the 4th quarter worth about $333,000. Finally, First Trust Advisors LP raised its position in shares of Tapestry by 53.8% during the 4th quarter. First Trust Advisors LP now owns 524,339 shares of the luxury accessories retailer’s stock worth $34,255,000 after purchasing an additional 183,527 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 1.0%

Shares of NYSE TPR opened at $99.69 on Tuesday. The company has a 50 day simple moving average of $97.28 and a 200-day simple moving average of $82.97. The company has a market capitalization of $20.70 billion, a P/E ratio of 158.24, a P/E/G ratio of 2.54 and a beta of 1.51. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a 1 year low of $39.40 and a 1 year high of $114.05.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.6%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio is 222.22%.

Analysts Set New Price Targets

Several research analysts recently weighed in on TPR shares. Raymond James Financial restated an “outperform” rating and set a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Cowen restated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Citigroup upped their price target on shares of Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price objective (up previously from $92.00) on shares of Tapestry in a research note on Monday, August 11th. Finally, Wells Fargo & Company upped their price objective on shares of Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $105.47.

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.