Capital One National Association acquired a new stake in shares of Tapestry Inc (NYSE:TPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,525 shares of the luxury accessories retailer’s stock, valued at approximately $819,000.

Other institutional investors also recently modified their holdings of the company. Oak Point Wealth Management bought a new position in Tapestry during the fourth quarter valued at approximately $469,000. Point View Wealth Management Inc. bought a new position in Tapestry in the third quarter worth approximately $552,000. Sheets Smith Wealth Management bought a new position in Tapestry in the fourth quarter worth approximately $760,000. Public Employees Retirement System of Ohio bought a new position in Tapestry in the third quarter worth approximately $4,916,000. Finally, CWM LLC bought a new position in Tapestry in the fourth quarter worth approximately $5,978,000. Institutional investors own 87.97% of the company’s stock.

TPR has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Susquehanna Bancshares initiated coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price target on the stock. Citigroup initiated coverage on shares of Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price target on the stock. William Blair reiterated a “buy” rating on shares of Tapestry in a research report on Saturday, October 21st. Finally, Canaccord Genuity set a $58.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Sunday, January 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Tapestry presently has an average rating of “Buy” and a consensus price target of $50.23.

In related news, CAO Todd Kahn sold 4,357 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.13, for a total transaction of $214,059.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sarah Dunn sold 6,229 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total transaction of $300,424.67. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Shares of Tapestry Inc (TPR) opened at $50.14 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51. The stock has a market cap of $14,260.00, a price-to-earnings ratio of 44.77, a PEG ratio of 1.70 and a beta of 0.59. Tapestry Inc has a 52 week low of $37.53 and a 52 week high of $50.71.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. research analysts anticipate that Tapestry Inc will post 2.56 EPS for the current year.

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About Tapestry

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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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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