Sumitomo Mitsui DS Asset Management Company Ltd Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,589 shares of the luxury accessories retailer's stock, valued at approximately $300,000.

Several other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Tapestry by 0.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer's stock valued at $1,261,000 after buying an additional 170 shares during the period. Valley National Advisers Inc. boosted its position in Tapestry by 0.5% during the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer's stock valued at $2,831,000 after purchasing an additional 202 shares in the last quarter. Redwood Investment Management LLC boosted its position in Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer's stock valued at $2,269,000 after purchasing an additional 204 shares in the last quarter. IRON Financial LLC boosted its position in Tapestry by 4.5% during the fourth quarter. IRON Financial LLC now owns 4,882 shares of the luxury accessories retailer's stock valued at $319,000 after purchasing an additional 208 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer's stock valued at $367,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

Shares of Tapestry stock traded up $1.04 on Friday, reaching $87.68. The company's stock had a trading volume of 4,819,117 shares, compared to its average volume of 4,970,739. The company has a market capitalization of $20.43 billion, a P/E ratio of 25.41, a PEG ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $88.07. The stock has a 50-day moving average price of $70.11 and a 200-day moving average price of $55.00. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts' consensus estimates 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 firm earned $1.63 earnings per share. Analysts expect that Tapestry, Inc. will post 4.7 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent research reports. TD Cowen downgraded Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price objective on the stock. in a research report on Tuesday, October 29th. Robert W. Baird raised their price target on Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Telsey Advisory Group raised their price target on Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. UBS Group raised their price target on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Raymond James reissued an "outperform" rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and an average target price of $74.78.

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.