SeaBridge Investment Advisors LLC purchased a new position in shares of Tapestry Inc (NYSE:TPR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 141,962 shares of the luxury accessories retailer’s stock, valued at approximately $6,279,000. Tapestry accounts for approximately 1.4% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 25th biggest holding.
A number of other institutional investors have also modified their holdings of TPR. ANTIPODES PARTNERS Ltd bought a new stake in Tapestry during the fourth quarter worth $77,642,000. Schwab Charles Investment Management Inc. bought a new stake in Tapestry during the fourth quarter worth $49,821,000. Bank of Montreal Can bought a new stake in Tapestry during the fourth quarter worth $41,672,000. Greylin Investment Mangement Inc. bought a new stake in Tapestry during the fourth quarter worth $27,985,000. Finally, Capital International Investors bought a new stake in Tapestry during the third quarter worth $25,376,000. Institutional investors and hedge funds own 87.66% of the company’s stock.
Tapestry Inc (NYSE:TPR) traded up $0.07 during trading on Tuesday, reaching $47.58. The company had a trading volume of 2,550,000 shares, compared to its average volume of 2,360,000. Tapestry Inc has a twelve month low of $34.33 and a twelve month high of $48.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.25 and a current ratio of 1.74. The stock has a market capitalization of $13,530.00, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.46.
Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 24.2% on a year-over-year basis. equities research analysts predict that Tapestry Inc will post 2.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, December 7th. Tapestry’s payout ratio is 83.85%.
Several analysts have issued reports on the company. Buckingham Research set a $48.00 target price on Tapestry and gave the company a “buy” rating in a research note on Friday, October 6th. Susquehanna Bancshares assumed coverage on Tapestry in a research note on Thursday, November 2nd. They issued a “positive” rating and a $50.00 target price on the stock. Zacks Investment Research lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Citigroup assumed coverage on Tapestry in a research note on Thursday, November 2nd. They issued a “positive” rating and a $50.00 target price on the stock. Finally, William Blair restated a “buy” rating on shares of Tapestry in a research note on Saturday, October 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $47.92.
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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