OmniStar Financial Group Inc. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, Holdings Channel reports. The firm bought 9,867 shares of the luxury accessories retailer’s stock, valued at approximately $307,000.
A number of other large investors have also bought and sold shares of TPR. FMR LLC raised its holdings in Tapestry by 19.4% during the fourth quarter. FMR LLC now owns 30,280,088 shares of the luxury accessories retailer’s stock valued at $941,106,000 after acquiring an additional 4,925,214 shares during the period. BlackRock Inc. boosted its position in shares of Tapestry by 19.6% during the third quarter. BlackRock Inc. now owns 22,424,017 shares of the luxury accessories retailer’s stock valued at $350,488,000 after buying an additional 3,672,165 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Tapestry by 343.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,083,805 shares of the luxury accessories retailer’s stock valued at $95,845,000 after purchasing an additional 2,388,352 shares during the period. Boston Partners boosted its holdings in shares of Tapestry by 23.3% in the third quarter. Boston Partners now owns 8,555,199 shares of the luxury accessories retailer’s stock valued at $133,718,000 after purchasing an additional 1,619,213 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Tapestry by 807.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,752,682 shares of the luxury accessories retailer’s stock valued at $54,473,000 after purchasing an additional 1,559,641 shares during the period. 85.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE TPR opened at $40.95 on Tuesday. The company has a 50 day simple moving average of $35.27 and a 200-day simple moving average of $25.23. The company has a market capitalization of $11.38 billion, a P/E ratio of -25.59, a P/E/G ratio of 1.28 and a beta of 1.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.56 and a quick ratio of 1.12. Tapestry, Inc. has a 1 year low of $10.18 and a 1 year high of $41.48.
A number of equities analysts recently commented on TPR shares. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, January 7th. Deutsche Bank Aktiengesellschaft upped their price target on Tapestry from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. Morgan Stanley upped their target price on Tapestry from $23.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, February 8th. KeyCorp upped their target price on Tapestry from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, February 5th. Finally, Telsey Advisory Group raised shares of Tapestry from a “market perform” rating to an “outperform” rating and upped their price target for the company from $38.00 to $46.00 in a report on Tuesday, February 9th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.71.
In related news, CEO Todd Kahn sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $40.06, for a total transaction of $801,200.00. Following the completion of the transaction, the chief executive officer now owns 206,460 shares of the company’s stock, valued at approximately $8,270,787.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, China, Hong Kong, Macau, Taiwan, Europe, Canada, South Korea, Malaysia, Singapore, Australia, and New Zealand. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.
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