Afam Capital Inc. purchased a new stake in Tapestry Inc (NYSE:TPR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 172,415 shares of the luxury accessories retailer’s stock, valued at approximately $6,945,000. Afam Capital Inc. owned about 0.06% of Tapestry at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors purchased a new stake in Tapestry in the 3rd quarter valued at $25,376,000. Point View Wealth Management Inc. purchased a new stake in Tapestry in the 3rd quarter valued at $552,000. LMR Partners LLP purchased a new stake in Tapestry in the 3rd quarter valued at $229,000. Finally, M&R Capital Management Inc. purchased a new stake in Tapestry in the 3rd quarter valued at $153,000. 88.10% of the stock is owned by institutional investors and hedge funds.

Tapestry Inc (NYSE TPR) traded down $0.87 during mid-day trading on Tuesday, hitting $41.39. The stock had a trading volume of 2,050,600 shares, compared to its average volume of 3,366,296. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.74 and a quick ratio of 1.25. The company has a market cap of $12,016.28, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.46. Tapestry Inc has a 12 month low of $34.16 and a 12 month high of $48.85.

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, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.31 billion. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. analysts predict that Tapestry Inc will post 2.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.3375 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.35 annualized dividend and a dividend yield of 3.26%. Tapestry’s payout ratio is 83.85%.

A number of research firms recently commented on TPR. Oppenheimer set a $55.00 price target on Tapestry and gave the company a “buy” rating in a research report on Tuesday, August 15th. Vetr raised Tapestry from a “sell” rating to a “hold” rating and set a $45.98 price target for the company in a research report on Monday, August 14th. Goldman Sachs Group raised Tapestry from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, December 5th. Jefferies Group reissued a “hold” rating and issued a $42.00 price target on shares of Tapestry in a research report on Saturday, September 16th. Finally, Sanford C. Bernstein began coverage on Tapestry in a research report on Tuesday, September 12th. They issued an “outperform” rating and a $51.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.70.

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Tapestry Company 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‚Äôs brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

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