V Square Quantitative Management LLC Increases Stake in Tapestry, Inc. (NYSE:TPR)

V Square Quantitative Management LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,142 shares of the luxury accessories retailer’s stock after buying an additional 357 shares during the period. V Square Quantitative Management LLC’s holdings in Tapestry were worth $289,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new position in Tapestry in the 4th quarter worth approximately $527,000. HighPoint Advisor Group LLC purchased a new position in shares of Tapestry in the fourth quarter worth $198,000. NBC Securities Inc. lifted its holdings in shares of Tapestry by 84.0% during the first quarter. NBC Securities Inc. now owns 1,525 shares of the luxury accessories retailer’s stock valued at $72,000 after purchasing an additional 696 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Tapestry by 22.7% during the first quarter. Park Avenue Securities LLC now owns 9,664 shares of the luxury accessories retailer’s stock valued at $459,000 after buying an additional 1,785 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Tapestry in the 1st quarter worth about $863,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group lowered their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Evercore ISI cut their target price on shares of Tapestry from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lowered their price target on Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered their target price on Tapestry from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $47.07.

Tapestry Trading Down 0.1 %

Shares of TPR stock opened at $45.15 on Monday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 4.66 and a current ratio of 5.14. The stock has a fifty day simple moving average of $42.87 and a two-hundred day simple moving average of $41.81. The firm has a market capitalization of $10.37 billion, a PE ratio of 11.94, a PEG ratio of 1.67 and a beta of 1.53. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.95 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that Tapestry, Inc. will post 4.47 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 3.10%. Tapestry’s payout ratio is 37.04%.

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.