Tapestry, Inc. (NYSE:TPR) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its holdings in Tapestry, Inc. (NYSE:TPRGet Rating) by 62.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,787 shares of the luxury accessories retailer’s stock after selling 16,446 shares during the period. WINTON GROUP Ltd’s holdings in Tapestry were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Daiwa Securities Group Inc. increased its position in Tapestry by 14.9% during the first quarter. Daiwa Securities Group Inc. now owns 2,936 shares of the luxury accessories retailer’s stock worth $109,000 after purchasing an additional 380 shares during the last quarter. Park Avenue Securities LLC increased its position in Tapestry by 3.5% during the first quarter. Park Avenue Securities LLC now owns 11,603 shares of the luxury accessories retailer’s stock worth $431,000 after purchasing an additional 396 shares during the last quarter. SG Americas Securities LLC increased its position in Tapestry by 650.7% during the first quarter. SG Americas Securities LLC now owns 20,825 shares of the luxury accessories retailer’s stock worth $774,000 after purchasing an additional 18,051 shares during the last quarter. FDx Advisors Inc. acquired a new stake in Tapestry during the first quarter worth about $417,000. Finally, Arizona State Retirement System increased its position in Tapestry by 0.4% during the first quarter. Arizona State Retirement System now owns 75,553 shares of the luxury accessories retailer’s stock worth $2,807,000 after purchasing an additional 306 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Trading Up 0.3 %

NYSE TPR opened at $34.99 on Monday. Tapestry, Inc. has a one year low of $26.39 and a one year high of $47.05. The firm has a 50 day simple moving average of $31.81 and a 200-day simple moving average of $32.67. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.82. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.77 and a beta of 1.36.

Tapestry (NYSE:TPRGet Rating) last issued its quarterly earnings results on Thursday, August 18th. The luxury accessories retailer reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. Tapestry had a net margin of 12.29% and a return on equity of 35.86%. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that Tapestry, Inc. will post 3.63 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 27th. Investors of record on Friday, December 9th will be paid a $0.30 dividend. The ex-dividend date is Thursday, December 8th. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. Tapestry’s dividend payout ratio is currently 38.10%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 5,602 shares of Tapestry stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $36.85, for a total value of $206,433.70. Following the completion of the transaction, the vice president now owns 35,686 shares in the company, valued at $1,315,029.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of Tapestry to $38.00 in a research report on Wednesday, November 16th. Cowen increased their target price on shares of Tapestry from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. Citigroup lowered their target price on shares of Tapestry from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 14th. Morgan Stanley increased their target price on shares of Tapestry from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Credit Suisse Group lowered their target price on shares of Tapestry to $45.00 in a research note on Wednesday, November 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $44.14.

About Tapestry

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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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

See Also

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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