5,343 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Rakuten Securities Inc.

Rakuten Securities Inc. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,343 shares of the luxury accessories retailer’s stock, valued at approximately $197,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its holdings in Tapestry by 340.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 511 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in Tapestry during the 3rd quarter worth $26,000. Bell Investment Advisors Inc grew its holdings in Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after acquiring an additional 833 shares in the last quarter. Quarry LP grew its holdings in Tapestry by 100.8% during the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 127,311 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Tapestry by 955.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 0.1 %

TPR stock traded up $0.03 during trading hours on Wednesday, hitting $40.86. The company’s stock had a trading volume of 4,288,002 shares, compared to its average volume of 3,523,511. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $9.37 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The stock has a 50 day moving average price of $45.56 and a two-hundred day moving average price of $37.38.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts expect that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.43%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio is 35.35%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPR. The Goldman Sachs Group raised their price objective on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Wells Fargo & Company boosted their price target on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. TheStreet upgraded shares of Tapestry from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a report on Thursday, February 29th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.