Charter Trust Co. bought a new stake in Tapestry Inc (NYSE:TPR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,957 shares of the luxury accessories retailer’s stock, valued at approximately $485,000.

Other large investors also recently added to or reduced their stakes in the company. Hexavest Inc. acquired a new position in Tapestry in the fourth quarter valued at about $106,000. M&R Capital Management Inc. acquired a new position in Tapestry in the third quarter valued at about $153,000. LMR Partners LLP acquired a new position in Tapestry in the third quarter valued at about $229,000. City Holding Co. acquired a new position in Tapestry in the fourth quarter valued at about $333,000. Finally, Oak Point Wealth Management acquired a new position in Tapestry in the fourth quarter valued at about $469,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Inc (NYSE:TPR) opened at $46.99 on Thursday. The company has a current ratio of 1.74, a quick ratio of 1.25 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $13,360.00, a PE ratio of 29.19, a P/E/G ratio of 1.71 and a beta of 0.46. Tapestry Inc has a fifty-two week low of $34.33 and a fifty-two week high of $48.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The business 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%. Tapestry’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. analysts anticipate that Tapestry Inc will post 2.39 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.87%. Tapestry’s payout ratio is presently 83.85%.

Several equities analysts have weighed in on TPR shares. Goldman Sachs Group raised Tapestry from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 5th. Consumer Edge lowered Tapestry from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 11th. William Blair reaffirmed a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Citigroup assumed coverage on Tapestry in a research report on Thursday, November 2nd. They set a “positive” rating and a $50.00 price target on the stock. Finally, Wolfe Research lowered Tapestry from an “outperform” rating to a “peer perform” rating and dropped their price target for the stock from $51.00 to $42.00 in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target 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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