Rothschild Investment Corp IL Takes $214,000 Position in Tapestry Inc (NYSE:TPR)

Rothschild Investment Corp IL purchased a new stake in Tapestry Inc (NYSE:TPR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,750 shares of the luxury accessories retailer’s stock, valued at approximately $214,000.

Several other institutional investors also recently added to or reduced their stakes in TPR. Ingalls & Snyder LLC increased its stake in Tapestry by 23.4% during the 2nd quarter. Ingalls & Snyder LLC now owns 378,515 shares of the luxury accessories retailer’s stock worth $12,010,000 after buying an additional 71,750 shares during the period. Argus Investors Counsel Inc. increased its stake in Tapestry by 121.9% during the 2nd quarter. Argus Investors Counsel Inc. now owns 230,330 shares of the luxury accessories retailer’s stock worth $7,308,000 after buying an additional 126,515 shares during the period. Crossmark Global Holdings Inc. increased its stake in Tapestry by 2.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 17,480 shares of the luxury accessories retailer’s stock worth $555,000 after buying an additional 487 shares during the period. Midas Management Corp purchased a new stake in Tapestry during the 2nd quarter worth approximately $1,904,000. Finally, Empowered Funds LLC purchased a new stake in Tapestry during the 2nd quarter worth approximately $2,279,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Darrell Cavens bought 7,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $30.01 per share, for a total transaction of $210,070.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Annabelle Yu Long sold 3,229 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total transaction of $93,414.97. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

NYSE TPR traded up $0.14 on Tuesday, hitting $30.75. 67,393 shares of the stock were exchanged, compared to its average volume of 3,151,770. The company has a current ratio of 2.67, a quick ratio of 1.86 and a debt-to-equity ratio of 0.45. Tapestry Inc has a fifty-two week low of $27.93 and a fifty-two week high of $54.35. The firm has a market cap of $8.76 billion, a P/E ratio of 11.68, a PEG ratio of 1.00 and a beta of 0.88. The firm has a 50-day simple moving average of $30.42.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue was up .7% on a year-over-year basis. Analysts forecast that Tapestry Inc will post 2.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Thursday, June 6th. Tapestry’s dividend payout ratio (DPR) is presently 51.33%.

Several equities research analysts recently weighed in on TPR shares. Standpoint Research raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Goldman Sachs Group raised shares of to a “neutral” rating and cut their target price for the stock from GBX 1,855 ($24.24) to GBX 1,800 ($23.52) in a research note on Thursday, June 27th. Zacks Investment Research downgraded shares of Genprex from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Canaccord Genuity cut their target price on shares of Cronos Group from C$17.00 to C$16.00 in a research note on Friday, May 10th. Finally, UBS Group set a $133.00 target price on shares of LHC Group and gave the stock a “buy” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.84.

Tapestry Profile

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.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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