Fifth Third Bancorp increased its holdings in shares of Tapestry, Inc. (NYSE:TPR – Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,503 shares of the luxury accessories retailer’s stock after buying an additional 248 shares during the period. Fifth Third Bancorp’s holdings in Tapestry were worth $1,143,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Redwood Investment Management LLC lifted its holdings in shares of Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after purchasing an additional 204 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after buying an additional 215 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after buying an additional 218 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Tapestry by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after buying an additional 251 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after acquiring an additional 280 shares during the last quarter. 90.77% of the stock is owned by institutional investors.
Tapestry Price Performance
TPR stock opened at $74.43 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The business has a 50-day simple moving average of $65.88 and a two-hundred day simple moving average of $51.70. The company has a market capitalization of $17.35 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $75.78.
Tapestry Dividend Announcement
Wall Street Analyst Weigh In
A number of research firms have weighed in on TPR. UBS Group increased their target price on shares of Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup increased their price target on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets raised their target price on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.56.
Check Out Our Latest Stock Analysis on Tapestry
Insider Activity at Tapestry
In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.
About Tapestry
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.
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