8,100 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 8,100 shares of the luxury accessories retailer’s stock, valued at approximately $298,000.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Tapestry by 37.8% in the 3rd quarter. Invesco Ltd. now owns 4,394,913 shares of the luxury accessories retailer’s stock worth $126,354,000 after purchasing an additional 1,205,207 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Tapestry during the third quarter worth $34,010,000. Pacer Advisors Inc. raised its stake in shares of Tapestry by 60.1% in the fourth quarter. Pacer Advisors Inc. now owns 3,108,486 shares of the luxury accessories retailer’s stock valued at $114,423,000 after acquiring an additional 1,167,231 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock valued at $150,916,000 after buying an additional 1,154,808 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Tapestry by 27.3% in the third quarter. American Century Companies Inc. now owns 4,485,046 shares of the luxury accessories retailer’s stock valued at $128,945,000 after buying an additional 960,881 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 0.0 %

TPR stock opened at $38.98 on Thursday. The stock has a market capitalization of $8.94 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.81 and a beta of 1.61. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80. The business has a 50-day moving average of $43.78 and a 200-day moving average of $38.63. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.17. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business earned $1.36 EPS. Tapestry’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research analyst reports. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Thursday, February 29th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $50.00 in a research report on Monday, February 5th. Wells Fargo & Company lifted their price objective on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Profile

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.