TCW Group Inc. Increases Stock Position in Tapestry, Inc. (NYSE:TPR)

TCW Group Inc. grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,213 shares of the luxury accessories retailer’s stock after acquiring an additional 103,109 shares during the quarter. TCW Group Inc. owned about 0.28% of Tapestry worth $42,936,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TPR. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tapestry during the 3rd quarter valued at about $47,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in shares of Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after acquiring an additional 1,591 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research reports. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. BMO Capital Markets raised their price objective on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Barclays raised their price objective on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Telsey Advisory Group raised their price objective on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Robert W. Baird raised their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Trading Down 2.2 %

Tapestry stock opened at $84.60 on Friday. The stock has a market cap of $17.51 billion, a P/E ratio of 24.52, a PEG ratio of 2.01 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The firm’s 50 day moving average price is $72.63 and its 200-day moving average price is $56.61.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (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 EPS. On average, equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s 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.