TCW Group Inc. Takes $111 Million Position in Tapestry Inc (TPR)

TCW Group Inc. purchased a new position in shares of Tapestry Inc (NYSE:TPR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,509,594 shares of the luxury accessories retailer’s stock, valued at approximately $110,999,000.

Other hedge funds have also modified their holdings of the company. Hexavest Inc. purchased a new position in Tapestry during the fourth quarter worth approximately $106,000. First Dallas Securities Inc. purchased a new position in Tapestry during the fourth quarter worth approximately $108,000. Dupont Capital Management Corp purchased a new position in Tapestry during the fourth quarter worth approximately $110,000. Cerebellum GP LLC purchased a new position in Tapestry during the fourth quarter worth approximately $118,000. Finally, American Research & Management Co. purchased a new position in Tapestry during the fourth quarter worth approximately $129,000. Institutional investors own 93.37% of the company’s stock.

Shares of Tapestry Inc (NYSE TPR) opened at $50.06 on Monday. Tapestry Inc has a fifty-two week low of $37.53 and a fifty-two week high of $50.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51. The company has a market capitalization of $14,261.21, a P/E ratio of 20.43, a P/E/G ratio of 1.72 and a beta of 0.59.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, beating the consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. research analysts forecast that Tapestry Inc will post 2.58 EPS for the current year.

TPR has been the topic of a number of recent analyst reports. Needham & Company LLC initiated coverage on Tapestry in a research report on Monday, December 18th. They set a “hold” rating on the stock. KeyCorp increased their price target on Tapestry from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. UBS Group lowered their price target on Tapestry from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Canaccord Genuity set a $58.00 price target on Tapestry and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Piper Jaffray Companies upgraded Tapestry from a “neutral” rating to an “overweight” rating and set a $54.00 price target on the stock in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Tapestry currently has an average rating of “Buy” and an average target price of $50.23.

In other Tapestry news, CEO Victor Luis sold 123,780 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $50.02, for a total transaction of $6,191,475.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarah Dunn sold 6,229 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,366 shares of company stock valued at $6,705,960. 0.98% of the stock is owned by insiders.

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Tapestry Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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