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

Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,000 shares of the luxury accessories retailer's stock, valued at approximately $719,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Paralel Advisors LLC boosted its position in Tapestry by 10.0% in the fourth quarter. Paralel Advisors LLC now owns 52,876 shares of the luxury accessories retailer's stock worth $3,454,000 after purchasing an additional 4,800 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Tapestry by 8.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 108,243 shares of the luxury accessories retailer's stock valued at $7,072,000 after buying an additional 8,180 shares during the period. Bessemer Group Inc. raised its position in shares of Tapestry by 4.9% in the fourth quarter. Bessemer Group Inc. now owns 31,900 shares of the luxury accessories retailer's stock worth $2,085,000 after buying an additional 1,480 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Tapestry in the fourth quarter worth approximately $38,180,000. Finally, Abacus FCF Advisors LLC grew its holdings in Tapestry by 46.2% in the 4th quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer's stock worth $2,972,000 after acquiring an additional 14,384 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research firms have recently weighed in on TPR. Raymond James reaffirmed an "outperform" rating and issued a $88.00 target price (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Jefferies Financial Group boosted their price target on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Evercore ISI increased their target price on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Guggenheim increased their price objective on shares of Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average target price of $77.63.

Tapestry Stock Performance

NYSE TPR traded down $0.63 on Wednesday, reaching $63.31. The stock had a trading volume of 1,044,189 shares, compared to its average volume of 4,166,199. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a market cap of $13.11 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The business's 50-day moving average price is $75.26 and its 200 day moving average price is $64.92.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter last year, the firm earned $1.63 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.21%. Tapestry's dividend payout ratio (DPR) is currently 40.58%.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 21,107 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares in the company, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by insiders.

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.