TD Asset Management Inc. lifted its position in Tapestry Inc (NYSE:TPR) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 626,770 shares of the luxury accessories retailer’s stock after purchasing an additional 7,450 shares during the period. TD Asset Management Inc. owned about 0.22% of Tapestry worth $31,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LifePlan Financial Group Inc acquired a new position in Tapestry during the second quarter worth $142,000. Twin Tree Management LP raised its position in Tapestry by 128.9% during the second quarter. Twin Tree Management LP now owns 3,394 shares of the luxury accessories retailer’s stock worth $159,000 after acquiring an additional 15,144 shares during the period. NEXT Financial Group Inc acquired a new position in Tapestry during the third quarter worth $179,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Tapestry during the third quarter worth $201,000. Finally, Bray Capital Advisors raised its position in Tapestry by 100.0% during the third quarter. Bray Capital Advisors now owns 4,000 shares of the luxury accessories retailer’s stock worth $201,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 90.13% of the company’s stock.
Shares of NYSE TPR opened at $42.00 on Friday. The stock has a market capitalization of $12.29 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.30 and a beta of 0.70. The company has a quick ratio of 1.83, a current ratio of 2.74 and a debt-to-equity ratio of 0.48. Tapestry Inc has a 52 week low of $39.28 and a 52 week high of $55.50.
Tapestry (NYSE:TPR) last issued its earnings results on Tuesday, October 30th. The luxury accessories retailer reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Tapestry had a net margin of 9.00% and a return on equity of 24.73%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, equities research analysts predict that Tapestry Inc will post 2.78 EPS for the current fiscal year.
In related news, Director Ivan Menezes sold 2,068 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $50.70, for a total value of $104,847.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ian Bickley sold 48,071 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $52.13, for a total transaction of $2,505,941.23. The disclosure for this sale can be found here. Insiders sold 50,602 shares of company stock valued at $2,633,939 over the last quarter. Company insiders own 0.70% of the company’s stock.
A number of equities analysts have weighed in on TPR shares. UBS Group reduced their price objective on shares of Tapestry from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, July 31st. Piper Jaffray Companies set a $58.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Canaccord Genuity reduced their price objective on shares of Tapestry to $55.00 and set a “buy” rating for the company in a research report on Monday, August 13th. Loop Capital set a $59.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Tapestry in a research report on Tuesday, August 14th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.50.
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Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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