Standard Life Aberdeen plc acquired a new stake in Tapestry Inc (NYSE:TPR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 351,128 shares of the luxury accessories retailer’s stock, valued at approximately $15,533,000.
Other hedge funds also recently added to or reduced their stakes in the company. Hexavest Inc. bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $106,000. First Dallas Securities Inc. bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $108,000. Dupont Capital Management Corp bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $110,000. Cerebellum GP LLC bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $118,000. Finally, American Research & Management Co. bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $129,000. Institutional investors own 93.37% of the company’s stock.
Tapestry Inc (TPR) opened at $50.73 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.51. The firm has a market capitalization of $14,429.29, a price-to-earnings ratio of 45.46, a PEG ratio of 1.75 and a beta of 0.59. Tapestry Inc has a 12 month low of $37.53 and a 12 month high of $51.64.
Several research firms have recently weighed in on TPR. TheStreet upgraded Tapestry from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Barclays boosted their target price on Tapestry from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Buckingham Research boosted their target price on Tapestry from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. BMO Capital Markets boosted their target price on Tapestry from $42.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Finally, Bank of America boosted their target price on Tapestry from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Tapestry presently has a consensus rating of “Buy” and an average target price of $50.23.
In other news, CEO Victor Luis sold 123,780 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $50.02, for a total value of $6,191,475.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan J. Kropf sold 6,185 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $50.80, for a total value of $314,198.00. The disclosure for this sale can be found here. In the last three months, insiders sold 140,551 shares of company stock worth $7,020,158. 0.98% of the stock is currently owned by company insiders.
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Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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