Flossbach Von Storch AG trimmed its position in Tapestry Inc (NYSE:TPR) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,850 shares of the luxury accessories retailer’s stock after selling 39,500 shares during the period. Flossbach Von Storch AG owned approximately 0.07% of Tapestry worth $7,251,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of TPR. FMR LLC grew its position in Tapestry by 19.8% in the 2nd quarter. FMR LLC now owns 8,097,454 shares of the luxury accessories retailer’s stock valued at $378,232,000 after buying an additional 1,335,513 shares during the last quarter. Manning & Napier Group LLC grew its position in Tapestry by 14.6% in the 3rd quarter. Manning & Napier Group LLC now owns 40,362 shares of the luxury accessories retailer’s stock valued at $2,028,000 after buying an additional 5,147 shares during the last quarter. Bank of Montreal Can grew its position in Tapestry by 4.3% in the 3rd quarter. Bank of Montreal Can now owns 926,535 shares of the luxury accessories retailer’s stock valued at $46,576,000 after buying an additional 38,149 shares during the last quarter. Scout Investments Inc. purchased a new position in Tapestry in the 3rd quarter valued at $17,990,000. Finally, First Manhattan Co. grew its position in Tapestry by 37.6% in the 3rd quarter. First Manhattan Co. now owns 51,862 shares of the luxury accessories retailer’s stock valued at $2,607,000 after buying an additional 14,178 shares during the last quarter. Hedge funds and other institutional investors own 89.44% of the company’s stock.
TPR has been the topic of a number of analyst reports. Buckingham Research lowered their price objective on shares of Tapestry from $62.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, October 17th. Needham & Company LLC upgraded shares of Tapestry from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, October 16th. They noted that the move was a valuation call. Piper Jaffray Companies set a $52.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Wednesday, October 31st. Canaccord Genuity reiterated a “buy” rating and issued a $63.00 price objective on shares of Tapestry in a research report on Monday, October 29th. Finally, Zacks Investment Research reiterated a “buy” rating and issued a $45.00 price objective on shares of Tapestry in a research report on Saturday, November 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the stock. Tapestry has a consensus rating of “Buy” and an average target price of $49.93.
Tapestry stock opened at $33.86 on Monday. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.83. Tapestry Inc has a one year low of $31.91 and a one year high of $55.50.
Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.86 billion. Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS. On average, analysts predict that Tapestry Inc will post 2.62 earnings per share for the current year.
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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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