ANTIPODES PARTNERS Ltd Acquires Shares of 1,755,408 Tapestry Inc (TPR)

ANTIPODES PARTNERS Ltd acquired a new position in shares of Tapestry Inc (NYSE:TPR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,755,408 shares of the luxury accessories retailer’s stock, valued at approximately $77,642,000. Tapestry accounts for approximately 4.5% of ANTIPODES PARTNERS Ltd’s portfolio, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oak Point Wealth Management acquired a new stake in Tapestry during the 4th quarter worth about $469,000. Point View Wealth Management Inc. acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $552,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $4,916,000. Capital International Investors acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $25,376,000. Finally, New Mexico Educational Retirement Board acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $1,051,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Shares of Tapestry Inc (NYSE:TPR) opened at $46.99 on Thursday. Tapestry Inc has a 1-year low of $34.33 and a 1-year high of $48.85. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $13,052.82, a P/E ratio of 29.19, a P/E/G ratio of 1.71 and a beta of 0.46.

Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. analysts predict that Tapestry Inc will post 2.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 2.87%. The ex-dividend date was Thursday, December 7th. Tapestry’s dividend payout ratio is currently 83.85%.

Several equities research analysts have recently issued reports on TPR shares. KeyCorp set a $53.00 price target on Tapestry and gave the company a “buy” rating in a report on Wednesday, October 11th. Wolfe Research lowered Tapestry from an “outperform” rating to a “peer perform” rating and reduced their price target for the company from $51.00 to $42.00 in a report on Tuesday, October 3rd. Needham & Company LLC started coverage on Tapestry in a report on Monday, December 18th. They set a “hold” rating for the company. UBS Group reduced their price target on Tapestry from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Zacks Investment Research lowered Tapestry from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $47.92.

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About Tapestry

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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