Creative Planning raised its holdings in shares of Tapestry Inc (NYSE:TPR) by 146.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,043 shares of the luxury accessories retailer’s stock after purchasing an additional 76,191 shares during the period. Creative Planning’s holdings in Tapestry were worth $3,336,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. St. Johns Investment Management Company LLC bought a new position in shares of Tapestry during the third quarter worth about $26,000. NumerixS Investment Technologies Inc bought a new position in shares of Tapestry during the second quarter worth about $50,000. Avestar Capital LLC grew its position in shares of Tapestry by 34.5% during the second quarter. Avestar Capital LLC now owns 1,626 shares of the luxury accessories retailer’s stock worth $51,000 after acquiring an additional 417 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Tapestry by 106.7% during the second quarter. CSat Investment Advisory L.P. now owns 1,827 shares of the luxury accessories retailer’s stock worth $58,000 after acquiring an additional 943 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Tapestry during the second quarter worth about $61,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.
TPR stock opened at $27.23 on Friday. The company has a market capitalization of $7.76 billion, a P/E ratio of 10.60, a PEG ratio of 1.14 and a beta of 1.02. The company has a 50-day simple moving average of $25.78 and a 200 day simple moving average of $27.71. Tapestry Inc has a fifty-two week low of $18.54 and a fifty-two week high of $42.75. The company has a quick ratio of 1.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.15.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company earned $0.48 EPS. Tapestry’s revenue was down 1.7% on a year-over-year basis. Equities analysts anticipate that Tapestry Inc will post 2.52 EPS for the current year.
Several equities analysts have recently commented on the stock. Wells Fargo & Co restated a “buy” rating on shares of Tapestry in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Tapestry from $37.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. CIBC reaffirmed a “market perform” rating on shares of Tapestry in a report on Friday, August 16th. Deutsche Bank set a $33.00 price objective on shares of Tapestry and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Telsey Advisory Group downgraded shares of Tapestry from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.13.
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.
Recommended Story: How to interpret a stock’s beta number
Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry Inc (NYSE:TPR).
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.