Robinson Value Management Ltd. bought a new position in Tapestry Inc (NYSE:TPR) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 30,944 shares of the luxury accessories retailer’s stock, valued at approximately $1,369,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Oakbrook Investments LLC bought a new position in Tapestry in the 4th quarter worth about $496,000. Westpac Banking Corp bought a new position in Tapestry in the 4th quarter worth about $17,400,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Tapestry in the 4th quarter worth about $192,000. ANTIPODES PARTNERS Ltd bought a new position in Tapestry in the 4th quarter worth about $77,642,000. Finally, Cascade Investment Advisors Inc. bought a new position in Tapestry in the 4th quarter worth about $1,796,000. Institutional investors and hedge funds own 87.92% of the company’s stock.
Shares of Tapestry Inc (NYSE:TPR) traded up $1.09 during mid-day trading on Thursday, reaching $46.99. The company had a trading volume of 2,417,600 shares, compared to its average volume of 2,068,791. The stock has a market cap of $13,450.00, a PE ratio of 29.19, a PEG ratio of 1.71 and a beta of 0.46. Tapestry Inc has a 52 week low of $34.33 and a 52 week high of $48.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.74 and a quick ratio of 1.25.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th were issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, December 7th. Tapestry’s dividend payout ratio (DPR) is currently 83.85%.
A number of brokerages have weighed in on TPR. Canaccord Genuity set a $58.00 target price on Tapestry and gave the stock a “buy” rating in a research note on Sunday, January 7th. Zacks Investment Research upgraded Tapestry from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, January 8th. Robert W. Baird set a $50.00 target price on Tapestry and gave the stock a “buy” rating in a research note on Friday, December 22nd. Needham & Company LLC began coverage on Tapestry in a research note on Monday, December 18th. They issued a “hold” rating on the stock. Finally, Goldman Sachs Group upgraded Tapestry from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Tapestry presently has an average rating of “Buy” and a consensus price target of $47.92.
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Tapestry Company Profile
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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