Chase Investment Counsel Corp Boosts Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Chase Investment Counsel Corp boosted its stake in Tapestry, Inc. (NYSE:TPR) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,000 shares of the luxury accessories retailer’s stock after purchasing an additional 2,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in Tapestry were worth $1,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Capital Research Global Investors boosted its stake in Tapestry by 8.5% during the first quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock valued at $296,212,000 after buying an additional 489,933 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after acquiring an additional 2,087,586 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tapestry by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Tapestry by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after purchasing an additional 46,760 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Tapestry by 235.9% during the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of several recent research reports. The Goldman Sachs Group upped their target price on shares of Tapestry from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, October 21st. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their target price on Tapestry from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tapestry Trading Down 0.7 %

NYSE TPR opened at $51.18 on Wednesday. The company’s 50-day simple moving average is $45.68 and its two-hundred day simple moving average is $42.67. Tapestry, Inc. has a one year low of $27.91 and a one year high of $52.76. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.79 and a beta of 1.53. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. Tapestry’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Equities analysts forecast that Tapestry, Inc. will post 4.54 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.74%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Tapestry Company 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.