Chilton Capital Management LLC Makes New $53,000 Investment in Tapestry, Inc. (NYSE:TPR)

Chilton Capital Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,246 shares of the luxury accessories retailer’s stock, valued at approximately $53,000.

Other large investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in Tapestry in the first quarter valued at about $35,000. BNP Paribas bought a new position in Tapestry during the 1st quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV grew its holdings in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the period. EverSource Wealth Advisors LLC increased its stake in Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent analyst reports. Bernstein Bank upped their price objective on shares of Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Wells Fargo & Company dropped their price target on Tapestry from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Argus restated a “buy” rating and set a $52.00 target price on shares of Tapestry in a report on Tuesday, June 18th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Thursday, August 15th. Finally, StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.13.

Tapestry Trading Up 1.5 %

TPR stock opened at $41.57 on Wednesday. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. The company has a fifty day moving average price of $40.47 and a two-hundred day moving average price of $42.44. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a debt-to-equity ratio of 2.39, a current ratio of 5.14 and a quick ratio of 4.66.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. Tapestry’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.40 annualized dividend and a yield of 3.37%. Tapestry’s dividend payout ratio (DPR) is presently 37.04%.

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.