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Cullinan Associates Inc. reduced its Tapestry Inc. (NYSE: TPR) stock holdings by 3.8% in the second quarter, according to its latest Form 13F filed with the Securities & Exchange Commission Fund owned 98,800 shares in the luxury accessories retailer after selling 3,850 shares during the quarter. Cullinan Associates Inc.'s holdings in Tapestry were worth $ 4,615,000 as of the date it was last filed with the Securities & Exchange Commission. Exchange Commission
A number of other hedge funds have also added or reduced their stakes in TPR Stelac Advisory Services LLC has bought a new stake in Tapestry shares in the first quarter of a value of 39, approximately $ 130,000. Stratos Wealth Partners LTD. new stake in shares of Tapestry in the first quarter worth approximately $ 155,000. Pitcairn Co. has bought a new stake in shares of Tapestry in the 1st quarter of a value of 39, about $ 201,000 Sheaff Brock Investment Advisors LLC bought a new ke in Tapestry shares in the 1st quarter worth about $ 207,000. Finally, Atria Investments LLC acquired a new equity interest in Tapestry shares during the first quarter, valued at approximately $ 216,000. Institutional investors and hedge funds own 88.76% of the company's shares.
The tapestry opened Thursday at $ 48.05, reports Marketbeat.com. The stock has a market capitalization of $ 13.88 billion, a P / E ratio of 22.29, a P / E / G ratio of 1.51 and a beta of 0.33. Tapestry Inc. has a 12-month low of $ 38.70 and a 12-month high of $ 55.50. The company has a current ratio of 2.66, a ratio of 1.83 and a debt ratio of 0.51.
Tapestry (NYSE: TPR) last published its quarterly results on Tuesday, May 1. The luxury accessories retailer reported earnings per share of $ 0.54 for the quarter, exceeding by $ 0.04 the consensus estimate of Thomson Reuters of $ 0.50. The company achieved a turnover of $ 1.32 billion for the quarter, against a consensus estimate of $ 1.30 billion. Tapestry has a net margin of 6.10% and a return on equity of 24.12%. The quarterly business turnover of the company is up 32.9% over the same quarter of last year. Equity research badysts expect Tapestry Inc. to release 2.6 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid Monday, July 2. Shareholders of record on Friday, June 8 received a dividend of $ 0.338 per share. This is an increase from Tapestry's previous quarterly dividend of $ 0.34. The ex-dividend date of this dividend was Thursday, June 7th. This represents a dividend of $ 1.35 on an annualized basis and a return of 2.81%. The dividend distribution rate (DPR) of Tapestry is 62.79%.
Several equity research badysts have recently released stock reports. Wells Fargo & Co set a target price of $ 56.00 on Tapestry shares and awarded a "buy" rating in a report on Monday, July 9th. Guggenheim has re-evaluated its "buy" rating and issued a target price of $ 60.00 on Tapestry shares in a report released on Tuesday, July 3. Goldman Sachs Group took over coverage of Tapestry shares in a report on Monday, June 25. They issued a "buy" rating and a target price of $ 56.00 for the company. UBS Group took over Tapestry's shares in a report on Thursday, June 21st. They issued a note "buy" and a target price of $ 62.00 for the company. Finally, Susquehanna Bancshares restated a "positive" rating and issued a target price of $ 50.00 on Tapestry shares in a report on Thursday, June 7th. An badyst evaluated the stock with a sales note, seven gave a reserve note and twenty-three issued a buy-to-action note from the company. Tapestry has a consensual rating of "Buy" and an average target price of $ 54.66
Tapestry Company Profile
Tapestry, Inc. provides luxury accessories and lifestyle brands. It offers handbags, wallets, silver coins, bracelets and cosmetic cases, keychains and charms, as well as address books, time management accessories, sketchbooks and more. women's wallets; and business, computer bags, messenger-style bags, backpacks, bags, wallets, card cases, belts, sunglbades, watches, fancy accessories and men's ready-to-wear.
See also: Short Sale
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