Jump Financial LLC Has $2.22 Million Position in Tapestry, Inc. (NYSE:TPR)

Jump Financial LLC reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 45.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,361 shares of the luxury accessories retailer's stock after selling 51,092 shares during the period. Jump Financial LLC's holdings in Tapestry were worth $2,222,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its stake in shares of Tapestry by 9.8% in the third quarter. Commonwealth Equity Services LLC now owns 39,632 shares of the luxury accessories retailer's stock worth $1,139,000 after purchasing an additional 3,540 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Tapestry by 30.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,014 shares of the luxury accessories retailer's stock worth $345,000 after acquiring an additional 2,788 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tapestry by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,856 shares of the luxury accessories retailer's stock valued at $1,290,000 after acquiring an additional 5,320 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Tapestry by 15.8% in the 3rd quarter. Mackenzie Financial Corp now owns 14,397 shares of the luxury accessories retailer's stock worth $402,000 after purchasing an additional 1,962 shares in the last quarter. Finally, ING Groep NV bought a new position in Tapestry in the third quarter worth about $847,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TPR. Raymond James boosted their price objective on shares of Tapestry from $40.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 30th. Jefferies Financial Group downgraded Tapestry from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a report on Thursday, February 29th. StockNews.com upgraded Tapestry from a "hold" rating to a "buy" rating in a report on Thursday, April 18th. Wells Fargo & Company upped their price target on shares of Tapestry from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, February 2nd. Finally, Bernstein Bank lifted their target price on shares of Tapestry from $46.00 to $48.00 in a report on Thursday, May 9th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.71.

Tapestry Stock Performance

Shares of NYSE TPR traded up $0.76 during midday trading on Tuesday, hitting $42.11. 2,871,154 shares of the company's stock traded hands, compared to its average volume of 3,846,156. The firm has a fifty day moving average of $43.26 and a 200 day moving average of $39.07. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80. The company has a debt-to-equity ratio of 2.77, a quick ratio of 5.98 and a current ratio of 6.59. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.83 and a beta of 1.61.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. On average, analysts forecast that Tapestry, Inc. will post 4.22 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, June 7th. Tapestry's dividend payout ratio (DPR) is currently 37.04%.

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.