Allianz Asset Management GmbH acquired a new position in Tapestry Inc (NYSE:TPR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 218,841 shares of the luxury accessories retailer’s stock, valued at approximately $9,680,000. Allianz Asset Management GmbH owned approximately 0.08% of Tapestry at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Hexavest Inc. acquired a new position in Tapestry during the 4th quarter worth $106,000. First Dallas Securities Inc. acquired a new position in Tapestry during the 4th quarter worth $108,000. Dupont Capital Management Corp acquired a new position in Tapestry during the 4th quarter worth $110,000. Cerebellum GP LLC acquired a new position in Tapestry during the 4th quarter worth $118,000. Finally, American Research & Management Co. acquired a new position in Tapestry during the 4th quarter worth $129,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.
A number of research firms have weighed in on TPR. Credit Suisse Group began coverage on shares of Tapestry in a research report on Monday. They set an “outperform” rating and a $60.00 target price for the company. William Blair reissued an “outperform” rating on shares of Tapestry in a research report on Tuesday, February 6th. Piper Jaffray Companies set a $48.00 target price on shares of Tapestry and gave the stock a “hold” rating in a research report on Monday, February 5th. Barclays boosted their target price on shares of Tapestry from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research raised shares of Tapestry from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Tapestry has a consensus rating of “Buy” and a consensus price target of $50.75.
Shares of Tapestry Inc (NYSE:TPR) opened at $52.46 on Tuesday. The firm has a market cap of $14,953.48, a PE ratio of 46.84, a P/E/G ratio of 1.81 and a beta of 0.48. Tapestry Inc has a 52 week low of $37.92 and a 52 week high of $52.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51.
Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. equities analysts expect that Tapestry Inc will post 2.58 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.3375 dividend. The ex-dividend date is Thursday, March 8th. Tapestry’s payout ratio is currently 120.54%.
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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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