Los Angeles Capital Management LLC Grows Stake in Tapestry, Inc. (NYSE:TPR)

Los Angeles Capital Management LLC increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 660.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 238,725 shares of the luxury accessories retailer’s stock after purchasing an additional 207,322 shares during the period. Los Angeles Capital Management LLC owned 0.10% of Tapestry worth $15,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its holdings in Tapestry by 0.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after acquiring an additional 170 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Tapestry by 0.5% in the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after buying an additional 202 shares during the period. Redwood Investment Management LLC grew its stake in shares of Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after buying an additional 204 shares during the period. IRON Financial LLC grew its stake in shares of Tapestry by 4.5% in the 4th quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock valued at $319,000 after buying an additional 208 shares during the period. Finally, Lebenthal Global Advisors LLC grew its stake in shares of Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,430 shares of company stock worth $3,957,601 in the last ninety days. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Shares of TPR stock opened at $84.12 on Wednesday. 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. The stock has a market capitalization of $17.41 billion, a PE ratio of 24.38, a P/E/G ratio of 2.01 and a beta of 1.58. The firm has a 50 day moving average of $73.44 and a two-hundred day moving average of $57.40.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 period last year, the business posted $1.63 EPS. On average, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.66%. Tapestry’s dividend payout ratio is currently 40.58%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TPR shares. The Goldman Sachs Group increased their price target on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, February 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $78.53.

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.