Alaska Permanent Fund Corp Makes New $440,000 Investment in Tapestry, Inc. (NYSE:TPR)

Alaska Permanent Fund Corp acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 11,966 shares of the luxury accessories retailer’s stock, valued at approximately $440,000.

Several other hedge funds also recently modified their holdings of the company. Bell Investment Advisors Inc boosted its holdings in shares of Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after buying an additional 833 shares in the last quarter. AllSquare Wealth Management LLC grew its holdings in Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer’s stock worth $47,000 after purchasing an additional 423 shares during the period. Parkside Financial Bank & Trust increased its stake in Tapestry by 56.9% in the third quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer’s stock valued at $53,000 after purchasing an additional 668 shares in the last quarter. Allworth Financial LP increased its stake in Tapestry by 62.0% in the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock valued at $60,000 after purchasing an additional 620 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Tapestry during the third quarter valued at about $63,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TPR. Wells Fargo & Company boosted their target price on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, February 29th. OTR Global reissued a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Stock Up 1.7 %

TPR stock opened at $40.05 on Friday. The stock has a market cap of $9.19 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.81 and a beta of 1.57. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90. The stock’s fifty day simple moving average is $45.04 and its two-hundred day simple moving average is $37.92. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.50%. Tapestry’s dividend payout ratio (DPR) is presently 35.35%.

Tapestry 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.