Mirae Asset Global Investments Co. Ltd. Purchases 35,991 Shares of Tapestry, Inc. (NYSE:TPR)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 71.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,066 shares of the luxury accessories retailer’s stock after purchasing an additional 35,991 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tapestry were worth $3,168,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TPR. Norges Bank bought a new position in Tapestry during the 4th quarter valued at about $71,991,000. Invesco Ltd. lifted its holdings in Tapestry by 37.8% during the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock valued at $126,354,000 after purchasing an additional 1,205,207 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Tapestry during the 3rd quarter valued at about $34,010,000. Pacer Advisors Inc. lifted its holdings in Tapestry by 60.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,108,486 shares of the luxury accessories retailer’s stock valued at $114,423,000 after purchasing an additional 1,167,231 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock worth $150,916,000 after acquiring an additional 1,154,808 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TPR shares. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. TheStreet raised shares of Tapestry from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a research note on Wednesday, March 27th. Finally, StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Stock Down 0.9 %

Shares of NYSE TPR opened at $40.49 on Thursday. The stock has a market cap of $9.29 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.84 and a beta of 1.57. The firm has a 50 day moving average price of $45.57 and a 200 day moving average price of $37.41. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80.

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

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Thursday, March 7th. Tapestry’s dividend payout ratio is currently 35.35%.

About Tapestry

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.