CX Institutional grew its stake in Tapestry, Inc. (NYSE:TPR – Free Report) by 1.6% during the second quarter, HoldingsChannel reports. The firm owned 71,815 shares of the luxury accessories retailer’s stock after purchasing an additional 1,117 shares during the quarter. CX Institutional’s holdings in Tapestry were worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the stock. Asset Management One Co. Ltd. boosted its position in Tapestry by 13.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 29,213 shares of the luxury accessories retailer’s stock worth $1,083,000 after purchasing an additional 3,425 shares in the last quarter. International Assets Investment Management LLC boosted its position in Tapestry by 3,326.2% during the fourth quarter. International Assets Investment Management LLC now owns 111,350 shares of the luxury accessories retailer’s stock worth $4,099,000 after purchasing an additional 108,100 shares in the last quarter. Allworth Financial LP boosted its position in Tapestry by 62.0% during the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer’s stock worth $60,000 after purchasing an additional 620 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Tapestry by 71.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,066 shares of the luxury accessories retailer’s stock worth $3,168,000 after purchasing an additional 35,991 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Tapestry in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
Tapestry Stock Performance
Shares of NYSE:TPR opened at $37.94 on Friday. The firm has a market capitalization of $8.72 billion, a PE ratio of 10.03, a P/E/G ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 2.77, a current ratio of 6.59 and a quick ratio of 5.98. The business has a 50-day moving average of $41.38 and a two-hundred day moving average of $42.51. Tapestry, Inc. has a 12 month low of $25.99 and a 12 month high of $48.80.
Insiders Place Their Bets
In other Tapestry news, VP Manesh Dadlani sold 2,500 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $42.23, for a total transaction of $105,575.00. Following the completion of the sale, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.93% of the stock is currently owned by insiders.
Analysts Set New Price Targets
TPR has been the topic of several recent research reports. Robert W. Baird reduced their price objective on Tapestry from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Bernstein Bank upped their price objective on Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, Argus restated a “buy” rating and issued a $52.00 price objective on shares of Tapestry in a research report on Tuesday, June 18th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $47.56.
View Our Latest Report on Tapestry
Tapestry Company 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.
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