Nisa Investment Advisors LLC Purchases Shares of 102,374 Tapestry Inc (TPR)

Nisa Investment Advisors LLC purchased a new position in shares of Tapestry Inc (NYSE:TPR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 102,374 shares of the luxury accessories retailer’s stock, valued at approximately $4,528,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point View Wealth Management Inc. acquired a new position in shares of Tapestry during the 3rd quarter worth about $552,000. Oak Point Wealth Management acquired a new position in shares of Tapestry during the 4th quarter worth about $469,000. Public Employees Retirement System of Ohio acquired a new position in shares of Tapestry during the 3rd quarter worth about $4,916,000. Capital International Investors acquired a new position in shares of Tapestry during the 3rd quarter worth about $25,376,000. Finally, New Mexico Educational Retirement Board acquired a new position in shares of Tapestry during the 3rd quarter worth about $1,051,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Shares of Tapestry Inc (NYSE TPR) opened at $45.90 on Wednesday. Tapestry Inc has a one year low of $34.33 and a one year high of $48.85. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64. The firm has a market cap of $13,050.00, a P/E ratio of 28.51, a PEG ratio of 1.71 and a beta of 0.46.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. sell-side analysts forecast that Tapestry Inc will post 2.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were paid a $0.3375 dividend. The ex-dividend date was Thursday, December 7th. This represents a $1.35 annualized dividend and a dividend yield of 2.94%. Tapestry’s dividend payout ratio (DPR) is 83.85%.

Several analysts recently issued reports on TPR shares. William Blair reaffirmed a “buy” rating on shares of Tapestry in a research note on Saturday, October 21st. Buckingham Research set a $48.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Friday, October 6th. Robert W. Baird set a $49.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Tuesday, October 17th. KeyCorp set a $53.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, Cowen reaffirmed a “buy” rating and set a $46.00 price objective on shares of Tapestry in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.92.

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About Tapestry

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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