Lecap Asset Management Ltd. Takes Position in Tapestry, Inc. (NYSE:TPR)

Lecap Asset Management Ltd. bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,060 shares of the luxury accessories retailer's stock, valued at approximately $1,107,000.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. raised its holdings in shares of Tapestry by 340.7% during the first 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 last quarter. Alpha Paradigm Partners LLC purchased a new position in Tapestry in the third quarter valued at $26,000. Bell Investment Advisors Inc increased its holdings in Tapestry by 718.1% in the third quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer's stock valued at $27,000 after buying an additional 833 shares in the last quarter. Quarry LP increased its holdings in Tapestry by 100.8% in the second quarter. Quarry LP now owns 968 shares of the luxury accessories retailer's stock valued at $41,000 after buying an additional 127,311 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Tapestry by 955.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer's stock valued at $41,000 after buying an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Tapestry from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of Tapestry from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, February 2nd. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Wednesday. Telsey Advisory Group reiterated an "outperform" rating and issued a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. Finally, TheStreet upgraded shares of Tapestry from a "c+" rating to a "b-" rating in a research report on Tuesday, December 26th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.81.

Tapestry Trading Down 1.6 %

TPR stock traded down $0.68 during trading on Friday, reaching $41.14. 3,801,579 shares of the stock were exchanged, compared to its average volume of 3,898,569. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The business has a 50 day moving average price of $45.56 and a 200-day moving average price of $37.21. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.84 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. Tapestry's quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Tapestry, Inc. will post 4.25 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Thursday, March 7th. Tapestry's dividend payout ratio (DPR) is 35.35%.

Tapestry 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.