New York Life Investment Management LLC Has $2.12 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

New York Life Investment Management LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 57,661 shares of the luxury accessories retailer’s stock after purchasing an additional 562 shares during the period. New York Life Investment Management LLC’s holdings in Tapestry were worth $2,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Avory & Company LLC bought a new position in shares of Tapestry in the fourth quarter valued at about $237,000. Van ECK Associates Corp increased its position in shares of Tapestry by 34.4% in the fourth quarter. Van ECK Associates Corp now owns 92,920 shares of the luxury accessories retailer’s stock worth $3,420,000 after purchasing an additional 23,760 shares during the period. Crew Capital Management Ltd. bought a new position in Tapestry in the 4th quarter valued at about $210,000. Chase Investment Counsel Corp bought a new position in Tapestry in the fourth quarter valued at approximately $1,067,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Tapestry by 36.4% during the 4th quarter. Russell Investments Group Ltd. now owns 104,151 shares of the luxury accessories retailer’s stock worth $3,834,000 after buying an additional 27,794 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TPR. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. OTR Global reissued a “mixed” rating on shares of Tapestry in a report on Wednesday, April 17th. Evercore ISI raised Tapestry from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Raymond James upped their price objective on Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.81.

Tapestry Trading Up 0.6 %

NYSE TPR opened at $39.48 on Tuesday. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The business has a 50 day moving average price of $44.12 and a 200-day moving average price of $38.55. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 0.81 and a beta of 1.61.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the company earned $1.36 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts expect that Tapestry, Inc. will post 4.23 earnings per share for the current fiscal 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 given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Thursday, March 7th. Tapestry’s payout ratio is currently 35.35%.

About Tapestry

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.