Tapestry, Inc. (NYSE:TPR) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 16.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,121,469 shares of the luxury accessories retailer’s stock after purchasing an additional 298,409 shares during the period. Allianz Asset Management GmbH’s holdings in Tapestry were worth $138,596,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its stake in shares of Tapestry by 0.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after acquiring an additional 170 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Tapestry by 0.5% during the 4th quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock worth $2,831,000 after acquiring an additional 202 shares in the last quarter. Redwood Investment Management LLC boosted its stake in shares of Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after acquiring an additional 204 shares in the last quarter. IRON Financial LLC boosted its stake in shares of Tapestry by 4.5% during the 4th quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer’s stock worth $319,000 after acquiring an additional 208 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in shares of Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after acquiring an additional 215 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

Shares of NYSE TPR opened at $86.65 on Friday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The company has a market capitalization of $17.94 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The business’s 50-day moving average price is $72.21 and its two-hundred day moving average price is $56.14.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter in the previous year, the firm posted $1.63 earnings per share. Analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.62%. Tapestry’s dividend payout ratio is presently 40.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TPR shares. TD Cowen lowered 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. StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. raised their target price on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. UBS Group raised their target price on Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Citigroup raised their target price on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Company 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.