ZWJ Investment Counsel Inc. grew its position in Tapestry Inc (NYSE:TPR) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,046 shares of the luxury accessories retailer’s stock after buying an additional 5,711 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Tapestry were worth $4,095,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Nelson Roberts Investment Advisors LLC acquired a new position in shares of Tapestry in the 1st quarter worth approximately $26,000. Avestar Capital LLC lifted its holdings in shares of Tapestry by 2,225.0% in the 1st quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock worth $39,000 after acquiring an additional 1,157 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Tapestry by 47.1% in the 4th quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock worth $46,000 after acquiring an additional 440 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Tapestry by 1,079.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock worth $44,000 after acquiring an additional 1,284 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Tapestry in the 1st quarter worth approximately $66,000. 87.76% of the stock is owned by institutional investors and hedge funds.
Shares of TPR traded up $0.48 during midday trading on Friday, reaching $29.75. The stock had a trading volume of 4,254,977 shares, compared to its average volume of 3,433,754. Tapestry Inc has a 1-year low of $27.93 and a 1-year high of $54.35. The business has a fifty day moving average price of $30.45. The firm has a market capitalization of $8.49 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.86 and a current ratio of 2.67.
Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. Tapestry had a net margin of 11.78% and a return on equity of 22.08%. The company’s revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. Research analysts expect that Tapestry Inc will post 2.58 earnings per share for the current year.
Several equities analysts have recently commented on TPR shares. Goldman Sachs Group lowered shares of Tapestry to a “buy” rating in a report on Thursday, June 27th. OTR Global lowered shares of Tapestry to a “positive” rating in a report on Tuesday, April 23rd. Bank of America set a $48.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a report on Friday, May 10th. Piper Jaffray Companies set a $40.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Zacks Investment Research lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.84.
In related news, Director Annabelle Yu Long sold 3,229 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total value of $93,414.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Darrell Cavens bought 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $30.01 per share, for a total transaction of $210,070.00. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.
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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