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

International Assets Investment Management LLC increased its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 3,326.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,350 shares of the luxury accessories retailer's stock after buying an additional 108,100 shares during the period. International Assets Investment Management LLC's holdings in Tapestry were worth $4,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TPR. Invesco Ltd. boosted its stake in Tapestry by 37.8% in the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer's stock worth $126,354,000 after purchasing an additional 1,205,207 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Tapestry in the third quarter valued at about $34,010,000. Pacer Advisors Inc. raised its position in Tapestry by 60.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,108,486 shares of the luxury accessories retailer's stock worth $114,423,000 after acquiring an additional 1,167,231 shares during the period. Ameriprise Financial Inc. grew its position in shares of Tapestry by 28.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer's stock valued at $150,916,000 after acquiring an additional 1,154,808 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Tapestry by 27.3% in the 3rd quarter. American Century Companies Inc. now owns 4,485,046 shares of the luxury accessories retailer's stock worth $128,945,000 after purchasing an additional 960,881 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Tapestry from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Telsey Advisory Group reissued an "outperform" rating and issued a $54.00 price objective on shares of Tapestry in a research note on Thursday. Jefferies Financial Group cut shares of Tapestry from a "buy" rating to a "hold" rating and set a $50.00 target price on the stock. in a research note on Thursday, February 29th. Bernstein Bank increased their price target on Tapestry from $46.00 to $48.00 in a research note on Thursday. Finally, Evercore ISI raised Tapestry from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.82.

Tapestry Stock Performance

Shares of NYSE TPR traded up $1.39 during midday trading on Thursday, reaching $40.37. The company had a trading volume of 5,358,528 shares, compared to its average volume of 3,852,467. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. Tapestry, Inc. has a 1 year low of $25.99 and a 1 year high of $48.80. The stock has a market cap of $9.26 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.81 and a beta of 1.61. The business's 50-day simple moving average is $43.78 and its 200 day simple moving average is $38.63.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.50 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. On average, analysts forecast that Tapestry, Inc. will post 4.23 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.47%. Tapestry's payout ratio 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.