Kapitalo Investimentos Ltda Has $82,000 Stock Position in Tapestry, Inc. (NYSE:TPR)

Kapitalo Investimentos Ltda cut its stake in Tapestry, Inc. (NYSE:TPR) by 80.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,218 shares of the luxury accessories retailer’s stock after selling 9,212 shares during the period. Kapitalo Investimentos Ltda’s holdings in Tapestry were worth $82,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. acquired a new position in Tapestry during the fourth quarter worth $117,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Tapestry by 9.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock valued at $10,527,000 after purchasing an additional 23,532 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Tapestry in the fourth quarter valued at about $1,107,000. FCF Advisors LLC bought a new stake in Tapestry during the fourth quarter worth about $1,013,000. Finally, Dimensional Fund Advisors LP grew its stake in Tapestry by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer’s stock worth $121,671,000 after buying an additional 140,347 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 0.7 %

Shares of Tapestry stock opened at $41.31 on Friday. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80. The business has a fifty day simple moving average of $41.38 and a 200 day simple moving average of $41.37. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. The stock has a market cap of $9.49 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.60.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.14. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. Research analysts predict that Tapestry, Inc. will post 4.22 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.39%. Tapestry’s dividend payout ratio is 37.04%.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of Tapestry stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the transaction, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPR. OTR Global reissued a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research note on Thursday, May 9th. Robert W. Baird reduced their price target on shares of Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.53.

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.