Sumitomo Life Insurance Co. bought a new position in shares of Tapestry Inc (NYSE:TPR) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 32,964 shares of the luxury accessories retailers stock, valued at approximately $1,458,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Tapestry during the 4th quarter worth about $181,887,000. Miller Howard Investments Inc. NY acquired a new position in Tapestry during the fourth quarter worth approximately $78,023,000. ANTIPODES PARTNERS Ltd acquired a new position in Tapestry during the fourth quarter worth approximately $77,642,000. Schwab Charles Investment Management Inc. acquired a new position in Tapestry during the fourth quarter worth approximately $49,821,000. Finally, Bank of Montreal Can acquired a new position in Tapestry during the fourth quarter worth approximately $41,672,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.
Tapestry Inc (TPR) opened at $45.96 on Friday. Tapestry Inc has a 12 month low of $36.51 and a 12 month high of $48.85. The firm has a market capitalization of $13,069.88, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 1.71 and a beta of 0.59. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64.
Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, November 7th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, beating the Zacks consensus estimate of $0.36 by $0.06. Tapestry had a return on equity of 20.71% and a net margin of 9.62%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The companys revenue for the quarter was up 24.2% compared to the same quarter last year. equities research analysts predict that Tapestry Inc will post 2.39 earnings per share for the current fiscal year.
Several research analysts have commented on TPR shares. Zacks Investment Research lowered Tapestry from a buy rating to a hold rating in a research report on Thursday, January 11th. Susquehanna Bancshares started coverage on Tapestry in a research report on Thursday, November 2nd. They set a positive rating and a $50.00 price target on the stock. Citigroup started coverage on Tapestry in a research report on Thursday, November 2nd. They set a positive rating and a $50.00 price target on the stock. William Blair reaffirmed a buy rating on shares of Tapestry in a research report on Saturday, October 21st. Finally, Robert W. Baird set a $50.00 price target on Tapestry and gave the stock a buy rating in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $48.63.
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