Huntington National Bank decreased its position in shares of Tapestry Inc (NYSE:TPR) by 16.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,003 shares of the luxury accessories retailer’s stock after selling 950 shares during the period. Huntington National Bank’s holdings in Tapestry were worth $130,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC increased its stake in Tapestry by 5.2% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 33,343 shares of the luxury accessories retailer’s stock worth $869,000 after buying an additional 1,660 shares during the period. Empowered Funds LLC increased its position in shares of Tapestry by 45.4% in the 3rd quarter. Empowered Funds LLC now owns 104,438 shares of the luxury accessories retailer’s stock worth $2,721,000 after purchasing an additional 32,598 shares during the last quarter. Creative Planning increased its position in shares of Tapestry by 146.9% in the 3rd quarter. Creative Planning now owns 128,043 shares of the luxury accessories retailer’s stock worth $3,336,000 after purchasing an additional 76,191 shares during the last quarter. Mackay Shields LLC increased its position in shares of Tapestry by 10.0% in the 3rd quarter. Mackay Shields LLC now owns 48,282 shares of the luxury accessories retailer’s stock worth $1,257,000 after purchasing an additional 4,379 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of Tapestry by 39.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 27,961 shares of the luxury accessories retailer’s stock worth $728,000 after purchasing an additional 7,915 shares during the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE TPR traded up $0.16 during midday trading on Friday, hitting $27.23. The company’s stock had a trading volume of 4,969,634 shares, compared to its average volume of 4,901,814. Tapestry Inc has a 1-year low of $18.54 and a 1-year high of $42.75. The firm’s fifty day moving average price is $25.78 and its 200-day moving average price is $27.71. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.94 and a current ratio of 1.82. The firm has a market cap of $7.76 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.14 and a beta of 1.02.
Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts predict that Tapestry Inc will post 2.52 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Telsey Advisory Group downgraded shares of Tapestry from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th. Robert W. Baird set a $43.00 target price on shares of Tapestry and gave the stock a “buy” rating in a research report on Monday, August 12th. Piper Jaffray Companies downgraded shares of Tapestry from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $23.00 in a research report on Friday, August 16th. Morgan Stanley dropped their target price on shares of Tapestry from $37.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Finally, HSBC downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.13.
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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