Qsemble Capital Management LP Takes $1.44 Million Position in Tapestry, Inc. (NYSE:TPR)

Qsemble Capital Management LP bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 30,217 shares of the luxury accessories retailer’s stock, valued at approximately $1,435,000.

Other institutional investors have also recently made changes to their positions in the company. Capital Wealth Planning LLC purchased a new stake in Tapestry during the 1st quarter worth about $241,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tapestry in the first quarter worth about $1,546,000. SG Americas Securities LLC boosted its position in shares of Tapestry by 174.8% in the first quarter. SG Americas Securities LLC now owns 95,076 shares of the luxury accessories retailer’s stock valued at $4,514,000 after acquiring an additional 60,480 shares during the period. Empirical Finance LLC grew its stake in Tapestry by 3.3% during the first quarter. Empirical Finance LLC now owns 8,742 shares of the luxury accessories retailer’s stock valued at $415,000 after acquiring an additional 276 shares in the last quarter. Finally, Duality Advisers LP increased its holdings in Tapestry by 158.8% during the 1st quarter. Duality Advisers LP now owns 37,176 shares of the luxury accessories retailer’s stock worth $1,765,000 after acquiring an additional 22,811 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of a number of recent analyst reports. Bernstein Bank boosted their price target on shares of Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Robert W. Baird decreased their target price on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Argus reiterated a “buy” rating and set a $52.00 price target on shares of Tapestry in a research report on Tuesday, June 18th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $48.53.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 2,500 shares of Tapestry stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $42.23, for a total value of $105,575.00. Following the sale, the vice president now directly owns 37,173 shares in the company, valued at approximately $1,569,815.79. The sale was disclosed in a filing with the SEC, which is available through this link. 0.93% of the stock is owned by insiders.

Tapestry Trading Up 1.1 %

Shares of NYSE TPR traded up $0.48 during midday trading on Tuesday, reaching $42.96. The company had a trading volume of 2,606,259 shares, compared to its average volume of 3,415,631. The firm’s fifty day moving average price is $41.97 and its 200-day moving average price is $42.22. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The stock has a market cap of $9.87 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.89 and a beta of 1.59.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.24 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, June 7th. Tapestry’s dividend payout ratio (DPR) is 37.04%.

Tapestry Company 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.