Semanteon Capital Management LP Makes New $803,000 Investment in Tapestry, Inc. (NYSE:TPR)

Semanteon Capital Management LP bought a new position in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, Holdings Channel reports. The firm bought 21,815 shares of the luxury accessories retailer’s stock, valued at approximately $803,000.

A number of other large investors have also bought and sold shares of the company. Stevens Capital Management LP purchased a new stake in Tapestry in the fourth quarter worth $2,032,000. Atria Wealth Solutions Inc. purchased a new stake in Tapestry in the fourth quarter worth $244,000. Alaska Permanent Fund Corp purchased a new position in shares of Tapestry in the fourth quarter valued at $440,000. Watershed Asset Management L.L.C. purchased a new position in shares of Tapestry in the fourth quarter valued at $321,000. Finally, GAMMA Investing LLC purchased a new position in shares of Tapestry in the fourth quarter valued at $110,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Thursday, February 29th. The Goldman Sachs Group boosted their target price on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Trading Up 1.7 %

Shares of NYSE TPR traded up $0.66 during midday trading on Friday, reaching $40.05. The company had a trading volume of 3,329,575 shares, compared to its average volume of 3,807,965. 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 $9.19 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 quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The firm’s fifty day moving average price is $45.04 and its 200-day moving average price is $37.92.

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

Tapestry Announces Dividend

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

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.