XTX Topco Ltd Takes Position in Tapestry, Inc. (NYSE:TPR)

XTX Topco Ltd bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,793 shares of the luxury accessories retailer's stock, valued at approximately $574,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $114,199,000. WT Asset Management Ltd bought a new stake in Tapestry in the 4th quarter valued at $42,762,000. Raymond James Financial Inc. acquired a new position in Tapestry in the 4th quarter valued at $38,180,000. Alliancebernstein L.P. increased its position in Tapestry by 15.2% during 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 lifted its holdings in shares of Tapestry by 767.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock worth $30,344,000 after buying an additional 410,918 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TPR. Raymond James reaffirmed an "outperform" rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Robert W. Baird boosted their price target on Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Redburn Atlantic upgraded Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company upped their target price on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $79.00.

Tapestry Stock Performance

NYSE:TPR opened at $63.53 on Friday. The stock's 50-day moving average is $74.24 and its 200-day moving average is $65.27. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. 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 stock has a market cap of $13.15 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $1.63 earnings per share. Equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.20%. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 7,786 shares of the 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 directly owns 201,531 shares in the company, valued at $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,537 shares of company stock worth $5,730,589 over the last ninety days. 1.18% of the stock is owned by insiders.

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.

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