Los Angeles Capital Management LLC Purchases New Shares in Tapestry, Inc. (NYSE:TPR)

Los Angeles Capital Management LLC acquired a new position in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 403,113 shares of the luxury accessories retailer’s stock, valued at approximately $14,839,000.

Other large investors also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc boosted its holdings in shares of Tapestry by 718.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after purchasing an additional 833 shares during the period. First Horizon Advisors Inc. lifted its holdings in Tapestry by 334.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after buying an additional 1,158 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Tapestry by 62.0% in 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. AllSquare Wealth Management LLC raised 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 valued at $47,000 after purchasing an additional 423 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock worth $53,000 after buying an additional 668 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

TPR traded up $0.45 on Friday, reaching $39.24. 3,309,937 shares of the stock were exchanged, compared to its average volume of 4,157,360. 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 company’s 50-day moving average price is $44.29 and its 200 day moving average price is $38.34. The firm has a market capitalization of $9.00 billion, a PE ratio of 9.91, a PEG ratio of 0.80 and a beta of 1.61. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.23 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.35 dividend. 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%.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research reports. Telsey Advisory Group restated an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a report on Wednesday, March 27th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. OTR Global reiterated a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Finally, Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Thursday, February 29th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.81.

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.