Huntington National Bank reduced its holdings in Tapestry Inc (NYSE:TPR) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,003 shares of the luxury accessories retailer’s stock after selling 950 shares during the quarter. Huntington National Bank’s holdings in Tapestry were worth $130,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TPR. St. Johns Investment Management Company LLC bought a new stake in shares of Tapestry in the 3rd quarter worth approximately $26,000. NumerixS Investment Technologies Inc bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $50,000. Avestar Capital LLC raised its holdings in shares of Tapestry by 34.5% in the 2nd quarter. Avestar Capital LLC now owns 1,626 shares of the luxury accessories retailer’s stock worth $51,000 after purchasing an additional 417 shares in the last quarter. CSat Investment Advisory L.P. raised its holdings in shares of Tapestry by 106.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock worth $58,000 after purchasing an additional 943 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 88.23% of the company’s stock.
A number of analysts recently commented on the stock. UBS Group downgraded shares of Tapestry from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Monday, October 14th. Deutsche Bank set a $33.00 price target on shares of Tapestry and gave the company a “buy” rating in a report on Friday, August 16th. Oppenheimer lowered shares of Tapestry from an “outperform” rating to a “market perform” rating in a report on Friday, August 16th. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of Tapestry in a report on Wednesday, October 30th. Finally, Zacks Investment Research lowered shares of Tapestry from a “hold” rating to a “sell” rating and set a $28.00 price target on the stock. in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.13.
TPR traded up $0.16 on Friday, reaching $27.23. 4,969,634 shares of the company traded hands, compared to its average volume of 4,901,814. The stock’s 50 day moving average price is $25.78 and its 200-day moving average price is $27.71. Tapestry Inc has a 52-week low of $18.54 and a 52-week high of $42.75. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.82 and a quick ratio of 1.94.
Tapestry (NYSE:TPR) last announced its quarterly earnings data on Tuesday, November 5th. The luxury accessories retailer reported $0.40 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Tapestry Inc will post 2.52 earnings per share for the current fiscal year.
Tapestry Company Profile
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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