Semanteon Capital Management LP Invests $599,000 in Tapestry, Inc. (NYSE:TPR)

Semanteon Capital Management LP purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,164 shares of the luxury accessories retailer's stock, valued at approximately $599,000.

A number of other large investors also recently bought and sold shares of TPR. Harvest Fund Management Co. Ltd bought a new position in shares of Tapestry during the fourth quarter valued at approximately $1,246,000. Thrivent Financial for Lutherans increased its position in Tapestry by 18.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 175,307 shares of the luxury accessories retailer's stock valued at $11,453,000 after buying an additional 27,886 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Tapestry during the fourth quarter valued at $477,000. Cibc World Markets Corp raised its stake in Tapestry by 46.8% during the fourth quarter. Cibc World Markets Corp now owns 26,222 shares of the luxury accessories retailer's stock valued at $1,713,000 after buying an additional 8,360 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Tapestry by 43.3% in the fourth quarter. Corient Private Wealth LLC now owns 38,893 shares of the luxury accessories retailer's stock worth $2,541,000 after acquiring an additional 11,754 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares of the company's stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the sale, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 in the last three months. Company insiders own 1.18% of the company's stock.

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Tapestry Stock Performance

Tapestry stock traded down $1.03 during trading on Wednesday, reaching $73.70. The company had a trading volume of 2,775,219 shares, compared to its average volume of 3,825,134. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm's 50-day simple moving average is $77.49 and its 200 day simple moving average is $62.44. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating 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 in the previous year, the company posted $1.63 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.90%. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price target on the stock in a report on Tuesday, February 18th. Jefferies Financial Group boosted their price objective on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, Barclays upped their price objective on Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.53.

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.