Chevy Chase Trust Holdings LLC Has $7.99 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,347 shares of the luxury accessories retailer’s stock after selling 1,137 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Tapestry were worth $7,993,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after purchasing an additional 30,121 shares during the period. Apollon Wealth Management LLC bought a new stake in shares of Tapestry in the 4th quarter valued at about $328,000. Assenagon Asset Management S.A. bought a new stake in shares of Tapestry in the 3rd quarter valued at about $5,446,000. Valley Wealth Managers Inc. raised its holdings in shares of Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after purchasing an additional 8,833 shares during the period. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Tapestry in the 4th quarter valued at about $3,437,000. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

NYSE TPR opened at $87.68 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 4.38 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.30 and a beta of 1.58. The firm’s 50 day simple moving average is $70.61 and its 200 day simple moving average is $55.34. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $88.07.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter last year, the business posted $1.63 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.60%. Tapestry’s dividend payout ratio is currently 40.58%.

Analysts Set New Price Targets

Several research analysts have weighed in on TPR shares. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird increased their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Guggenheim increased their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.78.

About Tapestry

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.