TCW Group Inc. Acquires 103,109 Shares of Tapestry, Inc. (NYSE:TPR)

TCW Group Inc. increased its holdings in Tapestry, Inc. (NYSE:TPR) by 18.6% during the 4th quarter, HoldingsChannel reports. The firm owned 657,213 shares of the luxury accessories retailer’s stock after buying an additional 103,109 shares during the period. TCW Group Inc.’s holdings in Tapestry were worth $42,936,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPR. Erste Asset Management GmbH bought a new stake in Tapestry in the third quarter worth $64,016,000. WT Asset Management Ltd bought a new stake in Tapestry in the fourth quarter worth $42,762,000. Bank of Montreal Can boosted its stake in Tapestry by 76.6% during the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock worth $59,641,000 after buying an additional 539,793 shares during the period. Allianz Asset Management GmbH boosted its stake in Tapestry by 16.4% during the fourth quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after buying an additional 298,409 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. 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 note on Monday, November 18th. Finally, TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Tapestry Stock Down 2.2 %

NYSE:TPR opened at $84.60 on Friday. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The company has a 50-day moving average of $72.63 and a 200 day moving average of $56.61. The firm has a market cap of $17.51 billion, a PE ratio of 24.52, a price-to-earnings-growth 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 (NYSE:TPR) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $1.63 earnings per share. As a group, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. Tapestry’s dividend payout ratio is presently 40.58%.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

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.