Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Tapestry Inc (NYSE:TPR) by 42.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,070 shares of the luxury accessories retailer’s stock after selling 5,310 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Tapestry were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Claybrook Capital LLC purchased a new position in shares of Tapestry in the fourth quarter worth $34,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Tapestry by 1,484.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock worth $36,000 after buying an additional 1,136,452 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Tapestry by 47.1% in the fourth quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 440 shares during the last quarter. Pearl River Capital LLC purchased a new position in shares of Tapestry in the fourth quarter worth $66,000. Finally, ETF Managers Group LLC raised its holdings in shares of Tapestry by 18.0% in the fourth quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock worth $85,000 after buying an additional 384 shares during the last quarter. 90.97% of the stock is owned by institutional investors.
Shares of Tapestry stock opened at $31.08 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.86. Tapestry Inc has a 1 year low of $29.82 and a 1 year high of $54.35. The firm has a market cap of $8.77 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.
A number of research firms have issued reports on TPR. Canaccord Genuity reaffirmed a “buy” rating and issued a $58.00 price target on shares of Tapestry in a report on Tuesday, February 5th. Zacks Investment Research cut shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $52.00 price target on shares of Tapestry in a report on Tuesday, January 29th. Wolfe Research raised shares of Tapestry from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 25th. Finally, MKM Partners decreased their price target on shares of Tapestry to $52.00 in a report on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. Tapestry currently has a consensus rating of “Buy” and an average target price of $47.42.
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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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