Tapestry, Inc. (NYSE:TPR) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 3,326.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,350 shares of the luxury accessories retailer’s stock after purchasing an additional 108,100 shares during the quarter. International Assets Investment Management LLC’s holdings in Tapestry were worth $4,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. grew its stake in shares of Tapestry by 340.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 511 shares during the period. Alpha Paradigm Partners LLC acquired a new stake in Tapestry in the 3rd quarter valued at $26,000. Bell Investment Advisors Inc grew its stake in Tapestry by 718.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock valued at $27,000 after acquiring an additional 833 shares during the period. Quarry LP grew its stake in Tapestry by 100.8% in the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 127,311 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Tapestry by 955.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 994 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Tapestry stock opened at $40.87 on Wednesday. The firm has a 50 day simple moving average of $45.56 and a 200-day simple moving average of $37.38. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. 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 $9.37 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Tapestry, Inc. will post 4.25 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.43%. Tapestry’s dividend payout ratio is currently 35.35%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TPR shares. Telsey Advisory Group reissued an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a research note on Wednesday, March 27th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

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.