Asset Management One Co. Ltd. Purchases 1,261 Shares of Tapestry, Inc. (NYSE:TPR)

Asset Management One Co. Ltd. lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 27.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,819 shares of the luxury accessories retailer’s stock after purchasing an additional 1,261 shares during the period. Asset Management One Co. Ltd.’s holdings in Tapestry were worth $383,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TPR. Bleakley Financial Group LLC bought a new position in shares of Tapestry during the third quarter valued at about $220,000. Blue Trust Inc. lifted its position in shares of Tapestry by 107.0% during the third quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after purchasing an additional 1,127 shares in the last quarter. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the third quarter valued at about $25,000. Private Advisor Group LLC lifted its position in shares of Tapestry by 18.7% during the third quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock valued at $545,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Tapestry during the third quarter valued at about $1,552,000. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TPR has been the topic of several research reports. Bank of America lifted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Raymond James reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. BMO Capital Markets lifted their price objective on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Daiwa America raised shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Finally, Telsey Advisory Group lifted their price objective on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Price Performance

Shares of NYSE:TPR opened at $86.65 on Friday. The company has a 50 day moving average of $72.21 and a 200 day moving average of $56.14. The stock has a market cap of $17.94 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating the consensus estimate 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 previous year, the company earned $1.63 earnings per share. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed 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 1.62%. Tapestry’s dividend payout ratio is currently 40.58%.

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.