Headlands Technologies LLC Purchases Shares of 4,561 Tapestry, Inc. (NYSE:TPR)

Headlands Technologies LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,561 shares of the luxury accessories retailer’s stock, valued at approximately $168,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truist Financial Corp raised its position in shares of Tapestry by 5.8% in the 4th quarter. Truist Financial Corp now owns 82,226 shares of the luxury accessories retailer’s stock worth $3,027,000 after acquiring an additional 4,475 shares in the last quarter. Semanteon Capital Management LP bought a new stake in Tapestry in the fourth quarter worth approximately $803,000. Stevens Capital Management LP acquired a new position in Tapestry in the fourth quarter valued at approximately $2,032,000. Atria Wealth Solutions Inc. bought a new position in shares of Tapestry during the 4th quarter worth approximately $244,000. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Tapestry during the 4th quarter worth approximately $440,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE TPR opened at $40.05 on Monday. The company has a market capitalization of $9.19 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.82 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The company has a 50-day simple moving average of $45.04 and a 200 day simple moving average of $38.07.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating the consensus estimate of $1.46 by $0.17. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. On average, research analysts predict that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.50%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research note on Wednesday, March 27th. The Goldman Sachs Group boosted their price objective on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

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.