29,000 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,000 shares of the luxury accessories retailer's stock, valued at approximately $1,067,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Tapestry by 36.4% in the 4th quarter. Russell Investments Group Ltd. now owns 104,151 shares of the luxury accessories retailer's stock valued at $3,834,000 after buying an additional 27,794 shares during the period. Headlands Technologies LLC bought a new position in shares of Tapestry during the fourth quarter valued at approximately $168,000. Truist Financial Corp raised its position in shares of Tapestry by 5.8% during the 4th quarter. Truist Financial Corp now owns 82,226 shares of the luxury accessories retailer's stock worth $3,027,000 after purchasing an additional 4,475 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Tapestry in the 4th quarter worth approximately $803,000. Finally, Stevens Capital Management LP acquired a new position in Tapestry during the 4th quarter valued at approximately $2,032,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on TPR. Evercore ISI raised Tapestry from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. Raymond James lifted their price objective on shares of Tapestry from $40.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. The Goldman Sachs Group upped their target price on shares of Tapestry from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. OTR Global restated a "mixed" rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company lifted their price target on Tapestry from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.81.

Tapestry Price Performance

TPR stock traded up $0.91 during trading hours on Monday, hitting $40.96. 4,161,316 shares of the stock traded hands, compared to its average volume of 3,812,273. The stock has a 50-day simple moving average of $44.94 and a 200 day simple moving average of $38.16. The company has a market cap of $9.39 billion, a P/E ratio of 10.34, a P/E/G ratio of 0.82 and a beta of 1.57. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a current ratio of 6.25, a quick ratio of 5.68 and a debt-to-equity ratio of 2.90.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 EPS. Equities analysts forecast that Tapestry, Inc. will post 4.23 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a yield of 3.42%. Tapestry's dividend payout ratio (DPR) is 35.35%.

Tapestry Profile

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.