Semanteon Capital Management LP Makes New $803,000 Investment in Tapestry, Inc. (NYSE:TPR)

Semanteon Capital Management LP acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,815 shares of the luxury accessories retailer's stock, valued at approximately $803,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Stevens Capital Management LP acquired a new position in Tapestry during the 4th quarter valued at about $2,032,000. Atria Wealth Solutions Inc. acquired a new position in Tapestry during the 4th quarter valued at about $244,000. Alaska Permanent Fund Corp acquired a new position in Tapestry during the 4th quarter valued at about $440,000. Watershed Asset Management L.L.C. acquired a new position in Tapestry during the 4th quarter valued at about $321,000. Finally, GAMMA Investing LLC acquired a new position in Tapestry during the 4th quarter valued at about $110,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR stock traded up $0.66 during midday trading on Friday, reaching $40.05. 3,329,575 shares of the company were exchanged, compared to its average volume of 3,807,965. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The business has a 50-day moving average price of $45.04 and a two-hundred day moving average price of $37.92. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.82 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. Tapestry's dividend payout ratio (DPR) is 35.35%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TPR. StockNews.com upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research report on Thursday, April 18th. Evercore ISI upgraded shares of Tapestry from an "in-line" rating to an "outperform" rating and increased their price target for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Telsey Advisory Group reiterated an "outperform" rating and issued a $54.00 price target on shares of Tapestry in a research report on Wednesday, March 27th. The Goldman Sachs Group increased their price target on shares of Tapestry from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Finally, Jefferies Financial Group downgraded shares of Tapestry from a "buy" rating to a "hold" rating and set a $50.00 price target on the stock. in a research report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.81.

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.

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