Paradigm Asset Management Co. LLC Invests $1.31 Million in Tapestry, Inc. (NYSE:TPR)

Paradigm Asset Management Co. LLC purchased a new position in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,100 shares of the luxury accessories retailer’s stock, valued at approximately $1,313,000.

Other hedge funds have also recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the third quarter worth about $25,000. Venturi Wealth Management LLC grew its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Tapestry in the third quarter worth about $47,000. UMB Bank n.a. grew its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its holdings in Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Performance

Shares of Tapestry stock opened at $86.65 on Friday. The firm has a market capitalization of $17.94 billion, a P/E ratio of 25.12, a PEG ratio of 2.07 and a beta of 1.58. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The company has a 50 day moving average price of $72.21 and a 200 day moving average price of $56.14. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 period last year, the company posted $1.63 earnings per share. Sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on TPR. Citigroup increased their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Guggenheim increased their target price on shares of Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James reiterated an “outperform” rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Finally, Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target 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.