Allianz Asset Management GmbH Raises Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Allianz Asset Management GmbH boosted its holdings in Tapestry, Inc. (NYSE:TPR) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 owned about 0.91% of Tapestry worth $138,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Bleakley Financial Group LLC purchased a new position in Tapestry in the third quarter valued at about $220,000. Blue Trust Inc. boosted its holdings in Tapestry by 107.0% in the third quarter. Blue Trust Inc. now owns 2,180 shares of the luxury accessories retailer’s stock valued at $93,000 after purchasing an additional 1,127 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in Tapestry in the third quarter valued at about $25,000. Private Advisor Group LLC boosted its holdings in Tapestry by 18.7% in the third quarter. Private Advisor Group LLC now owns 11,593 shares of the luxury accessories retailer’s stock valued at $545,000 after purchasing an additional 1,828 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Tapestry during the 3rd quarter worth approximately $1,552,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Telsey Advisory Group increased their target price on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a report on Tuesday, January 21st. The Goldman Sachs Group increased their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Barclays increased their target price on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Bank of America increased their target price on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.53.

Tapestry Stock Down 2.9 %

TPR opened at $86.65 on Friday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month 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 stock has a market cap of $17.94 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.07 and a beta of 1.58. The stock’s 50 day moving average price is $72.21 and its 200 day moving average price is $56.14.

Tapestry (NYSE:TPR) last posted its earnings results 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 return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the company posted $1.63 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

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

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.