Tapestry (NYSE:TPR) Stock Price Down 6.4%

Tapestry Inc (NYSE:TPR) fell 6.4% during trading on Wednesday . The company traded as low as $24.75 and last traded at $25.00, 6,489,778 shares changed hands during trading. An increase of 48% from the average session volume of 4,374,138 shares. The stock had previously closed at $26.71.

A number of research firms recently commented on TPR. OTR Global lowered shares of Tapestry to a “positive” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group lowered shares of Tapestry to a “buy” rating in a research note on Thursday, June 27th. UBS Group raised their price objective on shares of Tapestry from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Standpoint Research upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Finally, Canaccord Genuity restated a “buy” rating and set a $41.00 target price on shares of Tapestry in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.35.

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.86. The company’s 50-day moving average price is $29.77. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.88.

In other Tapestry news, Director Annabelle Yu Long sold 3,229 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $28.93, for a total value of $93,414.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Darrell Cavens bought 7,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $30.01 per share, with a total value of $210,070.00. The disclosure for this purchase can be found here. 0.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nelson Roberts Investment Advisors LLC acquired a new position in Tapestry during the first quarter valued at approximately $26,000. Avestar Capital LLC grew its holdings in Tapestry by 2,225.0% during the first quarter. Avestar Capital LLC now owns 1,209 shares of the luxury accessories retailer’s stock valued at $39,000 after purchasing an additional 1,157 shares during the period. Quadrant Capital Group LLC grew its holdings in Tapestry by 1,079.0% during the first quarter. Quadrant Capital Group LLC now owns 1,403 shares of the luxury accessories retailer’s stock valued at $44,000 after purchasing an additional 1,284 shares during the period. NumerixS Investment Technologies Inc acquired a new position in Tapestry during the second quarter valued at approximately $50,000. Finally, FTB Advisors Inc. grew its holdings in Tapestry by 612.0% during the second quarter. FTB Advisors Inc. now owns 2,079 shares of the luxury accessories retailer’s stock valued at $65,000 after purchasing an additional 1,787 shares during the period. 87.42% of the stock is owned by institutional investors.

Tapestry Company Profile (NYSE:TPR)

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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