16,158 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Anfield Capital Management LLC

Key Points

• Anfield Capital Management LLC acquired 16,158 shares of Tapestry, Inc., valued at approximately $1,138,000, during the 1st quarter.
• Institutional investors now own 90.77% of Tapestry's stock, with notable purchases from Southpoint Capital Advisors and Price T Rowe Associates.
• Sveral analysts have recently upgraded their ratings on Tapestry, with target prices reaching up to $145.00 from JPMorgan Chase & Co.

Anfield Capital Management LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,158 shares of the luxury accessories retailer's stock, valued at approximately $1,138,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Harbour Investments Inc. lifted its holdings in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after acquiring an additional 197 shares in the last quarter. Greenline Partners LLC bought a new position in Tapestry during the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Tapestry during the first quarter worth about $35,000. Finally, MorganRosel Wealth Management LLC bought a new position in Tapestry during the first quarter worth about $35,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

NYSE:TPR traded down $17.52 during trading hours on Thursday, hitting $96.01. The stock had a trading volume of 13,350,382 shares, compared to its average volume of 4,960,499. Tapestry, Inc. has a one year low of $38.09 and a one year high of $114.05. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 2.23 and a beta of 1.51. The company has a 50 day simple moving average of $96.10 and a two-hundred day simple moving average of $82.33.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.7%. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 36.84%.

Analyst Ratings Changes

Several research firms have weighed in on TPR. UBS Group reiterated a "neutral" rating and set a $112.00 target price (up from $73.00) on shares of Tapestry in a report on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating and issued a $120.00 price target (up from $100.00) on shares of Tapestry in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Tapestry from $104.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, July 28th. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Thursday, June 12th. Finally, Bank of America lowered Tapestry from a "buy" rating to a "neutral" rating and boosted their price target for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.