International Assets Investment Management LLC Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

International Assets Investment Management LLC grew its stake in Tapestry, Inc. (NYSE:TPR) by 3,326.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,350 shares of the luxury accessories retailer’s stock after purchasing an additional 108,100 shares during the period. International Assets Investment Management LLC’s holdings in Tapestry were worth $4,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Tapestry by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after buying an additional 173,111 shares during the period. FMR LLC boosted its stake in Tapestry by 2.0% during the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock worth $403,032,000 after buying an additional 280,959 shares during the period. Victory Capital Management Inc. increased its position in shares of Tapestry by 4.7% during the third quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock valued at $196,183,000 after acquiring an additional 305,658 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Tapestry by 28.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock worth $150,916,000 after acquiring an additional 1,154,808 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Tapestry by 27.3% during the 3rd quarter. American Century Companies Inc. now owns 4,485,046 shares of the luxury accessories retailer’s stock worth $128,945,000 after purchasing an additional 960,881 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Wells Fargo & Company increased their target price on shares of Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Wednesday, March 27th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research note on Thursday, February 29th. Finally, StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.81.

Tapestry Price Performance

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

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. Tapestry’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Company 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.