Dymon Asia Capital Singapore PTE. LTD. Buys New Stake in Tapestry, Inc. (NYSE:TPR)

Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,000 shares of the luxury accessories retailer’s stock, valued at approximately $719,000.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Tapestry in the fourth quarter worth approximately $114,199,000. WT Asset Management Ltd purchased a new stake in shares of Tapestry during the 4th quarter valued at $42,762,000. Raymond James Financial Inc. acquired a new stake in shares of Tapestry during the 4th quarter worth $38,180,000. Alliancebernstein L.P. raised its position in shares of Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after buying an additional 546,497 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in Tapestry by 767.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer’s stock valued at $30,344,000 after acquiring an additional 410,918 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,537 shares of company stock valued at $5,730,589. Corporate insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $64.03 on Friday. The business has a 50 day simple moving average of $76.01 and a 200 day simple moving average of $64.57. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the business posted $1.63 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Analyst Upgrades and Downgrades

TPR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upped their price target on Tapestry from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley reiterated an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Finally, UBS Group lifted their price target on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.63.

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.