Loudon Investment Management LLC Takes $1.38 Million Position in Tapestry Inc (TPR)

Loudon Investment Management LLC bought a new stake in Tapestry Inc (NYSE:TPR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 149,176 shares of the luxury accessories retailer’s stock, valued at approximately $1,376,000.

Several other large investors also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC lifted its stake in Tapestry by 27.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,381,737 shares of the luxury accessories retailer’s stock worth $170,000,000 after purchasing an additional 723,780 shares in the last quarter. Legal & General Group Plc lifted its stake in Tapestry by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 1,575,912 shares of the luxury accessories retailer’s stock worth $79,232,000 after purchasing an additional 49,750 shares in the last quarter. Morgan Stanley lifted its stake in Tapestry by 28.2% in the 3rd quarter. Morgan Stanley now owns 286,455 shares of the luxury accessories retailer’s stock worth $14,400,000 after purchasing an additional 63,048 shares in the last quarter. Vanguard Group Inc lifted its stake in Tapestry by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 30,145,320 shares of the luxury accessories retailer’s stock worth $1,515,405,000 after purchasing an additional 301,169 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Tapestry by 8.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 13,293 shares of the luxury accessories retailer’s stock worth $449,000 after purchasing an additional 994 shares in the last quarter. 90.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:TPR traded up $0.44 during trading on Thursday, reaching $31.52. The company had a trading volume of 89,487 shares, compared to its average volume of 4,601,769. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.09 and a beta of 0.70. Tapestry Inc has a 12 month low of $29.82 and a 12 month high of $54.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.86.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that Tapestry Inc will post 2.58 EPS for the current year.

TPR has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Tapestry from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 25th. Guggenheim reiterated a “buy” rating and issued a $52.00 target price on shares of Tapestry in a research note on Tuesday, January 29th. Zacks Investment Research cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Canaccord Genuity reiterated a “buy” rating and issued a $58.00 target price on shares of Tapestry in a research note on Tuesday, February 5th. Finally, Consumer Edge upgraded shares of Tapestry from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Tapestry has an average rating of “Buy” and a consensus price target of $47.42.

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Tapestry Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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