Cadence Capital Management LLC boosted its position in Tapestry Inc (NYSE:TPR) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,826 shares of the luxury accessories retailer’s stock after purchasing an additional 1,816 shares during the period. Cadence Capital Management LLC’s holdings in Tapestry were worth $1,499,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new stake in Tapestry in the third quarter valued at about $145,000. LifePlan Financial Group Inc purchased a new position in Tapestry in the second quarter valued at about $142,000. Twin Tree Management LP increased its holdings in Tapestry by 128.9% in the second quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock valued at $159,000 after buying an additional 15,144 shares in the last quarter. NEXT Financial Group Inc purchased a new position in Tapestry in the third quarter valued at about $179,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Tapestry in the third quarter valued at about $201,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.
In related news, insider Ian Bickley sold 48,071 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ivan Menezes sold 2,068 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $50.70, for a total transaction of $104,847.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,602 shares of company stock valued at $2,633,939. Corporate insiders own 0.70% of the company’s stock.
Shares of TPR opened at $42.00 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.74 and a quick ratio of 1.83. Tapestry Inc has a 1-year low of $39.28 and a 1-year high of $55.50. The company has a market cap of $12.29 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.30 and a beta of 0.70.
Tapestry (NYSE:TPR) last issued its quarterly earnings data on Tuesday, October 30th. The luxury accessories retailer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company posted $0.42 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Tapestry Inc will post 2.78 earnings per share for the current fiscal year.
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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