Semanteon Capital Management LP Takes Position in Tapestry, Inc. (NYSE:TPR)

Semanteon Capital Management LP bought a new stake in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,164 shares of the luxury accessories retailer’s stock, valued at approximately $599,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Erste Asset Management GmbH purchased a new position in Tapestry in the third quarter valued at about $64,016,000. WT Asset Management Ltd purchased a new position in Tapestry in the fourth quarter valued at about $42,762,000. Raymond James Financial Inc. purchased a new position in Tapestry in the fourth quarter valued at about $38,180,000. Bank of Montreal Can grew its stake in Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after purchasing an additional 539,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after acquiring an additional 382,856 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of several recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research note on Tuesday, January 21st. Guggenheim upped their price target on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group upped their price target on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group upped their price target on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price target on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Trading Up 0.1 %

Tapestry stock opened at $72.99 on Friday. The business has a 50 day moving average price of $77.17 and a two-hundred day moving average price of $61.67. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the business posted $1.63 earnings per share. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Tapestry’s dividend payout ratio is currently 40.58%.

Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,537 shares of company stock worth $5,730,589. Company insiders own 1.18% of the company’s stock.

About Tapestry

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.