Los Angeles Capital Management LLC Sells 226,159 Shares of Tapestry, Inc. (NYSE:TPR)

Los Angeles Capital Management LLC lessened its stake in Tapestry, Inc. (NYSE:TPR) by 87.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,403 shares of the luxury accessories retailer’s stock after selling 226,159 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Tapestry were worth $1,475,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors increased its stake in Tapestry by 8.5% in the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock valued at $296,212,000 after buying an additional 489,933 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Tapestry by 53.1% during the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after acquiring an additional 2,087,586 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tapestry by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after acquiring an additional 165,406 shares during the period. Bank of New York Mellon Corp boosted its position in Tapestry by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock worth $116,928,000 after purchasing an additional 46,760 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 12.8 %

TPR opened at $57.82 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry, Inc. has a one year low of $29.83 and a one year high of $58.49. The firm has a market capitalization of $13.47 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. The company has a fifty day moving average price of $46.21 and a 200-day moving average price of $42.83.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm posted $0.95 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Tapestry, Inc. will post 4.55 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.42%. Tapestry’s payout ratio is presently 40.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a research note on Thursday, November 7th. UBS Group lowered their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Robert W. Baird upped their price objective on Tapestry from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.