LSV Asset Management Has $12.92 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

LSV Asset Management decreased its position in Tapestry, Inc. (NYSE:TPR) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,833 shares of the luxury accessories retailer’s stock after selling 1,867 shares during the quarter. LSV Asset Management’s holdings in Tapestry were worth $12,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TPR. Apollon Wealth Management LLC acquired a new position in Tapestry during the 4th quarter worth $328,000. Charles Schwab Investment Management Inc. lifted its position in shares of Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock worth $522,471,000 after purchasing an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Tapestry during the 4th quarter worth about $3,437,000. Principal Financial Group Inc. boosted its stake in Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock valued at $20,195,000 after purchasing an additional 39,298 shares during the period. Finally, Pzena Investment Management LLC acquired a new stake in Tapestry in the 4th quarter valued at approximately $18,737,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Trading Down 0.8 %

Shares of Tapestry stock opened at $63.40 on Friday. The stock has a market capitalization of $13.13 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. 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 simple moving average of $75.82 and a 200 day simple moving average of $64.69.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $1.63 earnings per share. Research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, March 6th. Tapestry’s dividend payout ratio is currently 40.58%.

Analyst Ratings Changes

Several research firms have recently weighed in on TPR. Raymond James reissued an “outperform” rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a research report on Friday, February 7th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Barclays dropped their price objective on shares of Tapestry from $100.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday. Redburn Atlantic raised Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price target on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.63.

Insider Transactions at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares of the company’s stock, valued at $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company’s stock.

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.