Paradigm Asset Management Co. LLC Takes Position in Tapestry, Inc. (NYSE:TPR)

Paradigm Asset Management Co. LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 20,100 shares of the luxury accessories retailer’s stock, valued at approximately $1,313,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPR. Erste Asset Management GmbH purchased a new position in shares of Tapestry in the third quarter worth approximately $64,016,000. WT Asset Management Ltd purchased a new position in shares of Tapestry in the fourth quarter worth approximately $42,762,000. Bank of Montreal Can boosted its holdings in shares of Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock worth $59,641,000 after buying an additional 539,793 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Tapestry by 16.4% in the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after buying an additional 298,409 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Tapestry by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TPR. UBS Group lifted their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Wells Fargo & Company lifted their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Jefferies Financial Group lifted their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Price Performance

Tapestry stock opened at $86.65 on Friday. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.07 and a beta of 1.58. The firm’s fifty day moving average is $72.21 and its 200 day moving average is $56.14. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the business earned $1.63 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Tapestry Company 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.