Atomi Financial Group Inc. Invests $215,000 in Tapestry, Inc. (NYSE:TPR)

Atomi Financial Group Inc. purchased a new position in Tapestry, Inc. (NYSE:TPR) during the second quarter, HoldingsChannel reports. The fund purchased 5,032 shares of the luxury accessories retailer’s stock, valued at approximately $215,000.

A number of other large investors also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new stake in shares of Tapestry during the first quarter valued at approximately $35,000. BNP Paribas purchased a new position in shares of Tapestry during the first quarter valued at about $38,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after purchasing an additional 328 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Tapestry by 3,778.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after buying an additional 1,209 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after buying an additional 556 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Up 1.1 %

Tapestry stock opened at $40.70 on Thursday. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The stock has a market cap of $9.35 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 0.79 and a beta of 1.59. 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 50-day moving average of $40.54 and a two-hundred day moving average of $42.55.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. Tapestry’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.24 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, September 6th. Tapestry’s dividend payout ratio is presently 37.04%.

Wall Street Analyst Weigh In

TPR has been the subject of a number of recent research reports. Argus reissued a “buy” rating and issued a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. JPMorgan Chase & Co. dropped their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. UBS Group decreased their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Robert W. Baird lowered their price objective on Tapestry from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $46.13.

Tapestry Profile

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.