Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,705 shares of the luxury accessories retailer's stock after buying an additional 31,002 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Tapestry worth $12,562,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of TPR. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Tapestry during the third quarter worth $47,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock valued at $70,000 after purchasing an additional 605 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after purchasing an additional 1,591 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock worth $77,000 after buying an additional 496 shares during the last quarter. Institutional investors own 90.77% of the company's stock.
Shares of TPR stock opened at $82.07 on Friday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $87.87. The stock's fifty day moving average price is $67.72 and its two-hundred day moving average price is $53.01. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The company has a market cap of $19.13 billion, a PE ratio of 23.72, a P/E/G ratio of 2.07 and a beta of 1.58.
Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. During the same period last year, the firm earned $1.63 EPS. Equities analysts predict that Tapestry, Inc. will post 4.63 EPS for the current fiscal year.
In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.18% of the stock is currently owned by insiders.
Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a report on Friday, November 15th. Telsey Advisory Group upped their target price on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Tapestry from $66.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Raymond James reaffirmed an "outperform" rating and issued a $57.00 price objective (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Finally, UBS Group lifted their target price on Tapestry from $57.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.28.
View Our Latest Analysis on TPR
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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