Los Angeles Capital Management LLC Purchases Shares of 403,113 Tapestry, Inc. (NYSE:TPR)

Los Angeles Capital Management LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 403,113 shares of the luxury accessories retailer’s stock, valued at approximately $14,839,000. Los Angeles Capital Management LLC owned approximately 0.18% of Tapestry as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bell Investment Advisors Inc grew its stake in shares of Tapestry by 718.1% during the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after buying an additional 833 shares during the last quarter. AllSquare Wealth Management LLC grew its position in Tapestry by 35.1% during the 3rd quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after acquiring an additional 423 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Tapestry by 56.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock worth $53,000 after purchasing an additional 668 shares during the period. First Horizon Advisors Inc. lifted its position in Tapestry by 334.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after purchasing an additional 1,158 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Tapestry by 62.0% during the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock valued at $60,000 after purchasing an additional 620 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of Tapestry stock traded up $0.45 during trading hours on Friday, reaching $39.24. The company’s stock had a trading volume of 3,309,937 shares, compared to its average volume of 4,157,360. The firm has a 50 day moving average price of $44.29 and a 200-day moving average price of $38.34. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68. The stock has a market cap of $9.00 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.80 and a beta of 1.61. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, analysts predict that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.57%. The ex-dividend date was Thursday, March 7th. Tapestry’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPR. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Thursday, February 29th. OTR Global restated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. The Goldman Sachs Group boosted their target price on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Raymond James upped their target price on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.81.

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.