Caxton Associates LP Increases Position in Tapestry, Inc. (NYSE:TPR)

Caxton Associates LP lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,336 shares of the luxury accessories retailer’s stock after purchasing an additional 12,723 shares during the period. Caxton Associates LP’s holdings in Tapestry were worth $3,951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TPR. Balyasny Asset Management L.P. purchased a new stake in Tapestry during the 4th quarter worth approximately $102,531,000. Capital Research Global Investors increased its stake in Tapestry by 77.2% during the 4th quarter. Capital Research Global Investors now owns 5,748,737 shares of the luxury accessories retailer’s stock worth $211,611,000 after buying an additional 2,504,135 shares in the last quarter. Norges Bank purchased a new stake in Tapestry during the 4th quarter worth approximately $79,352,000. Fiera Capital Corp purchased a new stake in Tapestry during the 4th quarter worth approximately $52,121,000. Finally, Invesco Ltd. increased its stake in Tapestry by 37.8% during the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock worth $126,354,000 after buying an additional 1,205,207 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the completion of the transaction, the vice president now owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TPR has been the subject of several research reports. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Bernstein Bank boosted their target price on Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. OTR Global restated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Six research analysts have rated the stock with a hold rating and eleven have given 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 $48.31.

Tapestry Stock Down 2.9 %

NYSE:TPR traded down $1.28 during trading hours on Tuesday, hitting $42.91. The company’s stock had a trading volume of 939,685 shares, compared to its average volume of 3,613,151. The stock has a market capitalization of $9.86 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.94 and a beta of 1.61. The stock has a fifty day moving average of $41.68 and a 200-day moving average of $40.82. The company has a current ratio of 6.59, a quick ratio of 5.98 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Tapestry’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.40 annualized dividend and a yield of 3.26%. Tapestry’s dividend payout ratio is presently 37.04%.

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.