Campbell & CO Investment Adviser LLC acquired a new position in Tapestry Inc (NYSE:TPR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,227 shares of the luxury accessories retailer’s stock, valued at approximately $202,000.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Tapestry by 10.8% in the first quarter. BlackRock Inc. now owns 21,072,595 shares of the luxury accessories retailer’s stock worth $272,891,000 after purchasing an additional 2,046,917 shares in the last quarter. State Street Corp grew its stake in Tapestry by 3.0% in the first quarter. State Street Corp now owns 14,846,841 shares of the luxury accessories retailer’s stock worth $192,267,000 after purchasing an additional 431,341 shares in the last quarter. Samlyn Capital LLC lifted its holdings in Tapestry by 156.0% during the first quarter. Samlyn Capital LLC now owns 8,806,641 shares of the luxury accessories retailer’s stock worth $114,045,000 after buying an additional 5,366,559 shares during the period. Geode Capital Management LLC lifted its holdings in Tapestry by 2.1% during the first quarter. Geode Capital Management LLC now owns 4,839,200 shares of the luxury accessories retailer’s stock worth $62,619,000 after buying an additional 99,939 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Tapestry by 4.5% during the first quarter. Franklin Resources Inc. now owns 3,834,380 shares of the luxury accessories retailer’s stock worth $49,654,000 after buying an additional 165,152 shares during the period. 88.44% of the stock is currently owned by institutional investors.
NYSE:TPR opened at $13.36 on Friday. The company has a fifty day simple moving average of $13.42 and a two-hundred day simple moving average of $17.70. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 1.36. Tapestry Inc has a 52 week low of $10.18 and a 52 week high of $31.05.
Tapestry (NYSE:TPR) last issued its earnings results on Thursday, April 30th. The luxury accessories retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. Tapestry had a positive return on equity of 16.58% and a negative net margin of 3.64%. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, analysts expect that Tapestry Inc will post 0.72 EPS for the current year.
A number of research firms have weighed in on TPR. Cfra lowered their target price on Tapestry from $30.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Oppenheimer restated a “hold” rating on shares of Tapestry in a report on Tuesday, July 21st. Barclays reiterated a “hold” rating and set a $18.00 price objective on shares of Tapestry in a report on Friday, April 10th. Robert W. Baird reduced their target price on Tapestry from $33.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Morgan Stanley reduced their target price on Tapestry from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.55.
In other news, Director John P. Bilbrey bought 7,100 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $14.48 per share, for a total transaction of $102,808.00. Insiders own 1.10% 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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