Caprock Group LLC Boosts Holdings in Tapestry, Inc. (NYSE:TPR)

Caprock Group LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,428 shares of the luxury accessories retailer’s stock after acquiring an additional 316 shares during the period. Caprock Group LLC’s holdings in Tapestry were worth $355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in Tapestry during the 3rd quarter worth approximately $64,016,000. Bank of Montreal Can increased its position in shares of Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock worth $59,641,000 after acquiring an additional 539,793 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tapestry by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after acquiring an additional 272,007 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Tapestry by 972.6% during the 3rd quarter. Empowered Funds LLC now owns 203,491 shares of the luxury accessories retailer’s stock worth $9,560,000 after purchasing an additional 184,519 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. 1.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TPR. Citigroup increased their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays raised shares of Tapestry from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $57.00 to $87.00 in a report on Wednesday, January 8th. BMO Capital Markets boosted their price objective on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Wells Fargo & Company raised their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday. Finally, StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.28.

Tapestry Stock Performance

TPR opened at $73.40 on Thursday. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $76.49. The stock has a market cap of $17.10 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The business’s 50 day moving average is $67.29 and its 200-day moving average is $52.80. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

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.