Eagle Asset Management Inc. purchased a new stake in shares of Tapestry Inc (NYSE:TPR) during the fourth quarter, HoldingsChannel reports. The firm purchased 123,361 shares of the luxury accessories retailer’s stock, valued at approximately $5,456,000.
A number of other institutional investors also recently modified their holdings of the business. Pinebridge Investments L.P. acquired a new position in Tapestry during the 4th quarter valued at approximately $284,000. State of Wisconsin Investment Board acquired a new position in Tapestry during the 4th quarter valued at approximately $19,375,000. First Allied Advisory Services Inc. acquired a new position in Tapestry during the 4th quarter valued at approximately $5,290,000. MUFG Americas Holdings Corp acquired a new stake in shares of Tapestry in the fourth quarter worth $367,000. Finally, Ausdal Financial Partners Inc. acquired a new stake in shares of Tapestry in the fourth quarter worth $626,000. Institutional investors and hedge funds own 93.37% of the company’s stock.
Tapestry Inc (NYSE TPR) opened at $49.77 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 0.64. The stock has a market cap of $14,150.00, a price-to-earnings ratio of 44.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.59. Tapestry Inc has a twelve month low of $37.53 and a twelve month high of $50.99.
Tapestry (NYSE:TPR) last posted its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The company’s revenue was up 35.1% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. equities research analysts predict that Tapestry Inc will post 2.58 EPS for the current year.
A number of research firms have recently weighed in on TPR. TheStreet upgraded shares of Tapestry from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Barclays increased their price objective on shares of Tapestry from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Buckingham Research increased their price objective on shares of Tapestry from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. BMO Capital Markets increased their price objective on shares of Tapestry from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Finally, Bank of America increased their price objective on shares of Tapestry from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $50.23.
In other Tapestry news, insider Sarah Dunn sold 6,229 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Kahn sold 4,357 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,366 shares of company stock worth $6,705,960. Insiders own 0.98% of the company’s stock.
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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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