TD Asset Management Inc. Raises Stake in Tapestry Inc (TPR)

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TD Asset Management Inc. grew its holdings in Tapestry Inc (NYSE:TPR) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 634,349 shares of the luxury accessories retailer’s stock after acquiring an additional 7,579 shares during the period. TD Asset Management Inc. owned about 0.22% of Tapestry worth $21,409,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in shares of Tapestry by 19.8% in the 2nd quarter. FMR LLC now owns 8,097,454 shares of the luxury accessories retailer’s stock valued at $378,232,000 after acquiring an additional 1,335,513 shares in the last quarter. Manning & Napier Group LLC raised its holdings in shares of Tapestry by 14.6% in the 3rd quarter. Manning & Napier Group LLC now owns 40,362 shares of the luxury accessories retailer’s stock valued at $2,028,000 after acquiring an additional 5,147 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Tapestry by 4.3% in the 3rd quarter. Bank of Montreal Can now owns 926,535 shares of the luxury accessories retailer’s stock valued at $46,576,000 after acquiring an additional 38,149 shares in the last quarter. Scout Investments Inc. purchased a new stake in shares of Tapestry in the 3rd quarter valued at about $17,990,000. Finally, First Manhattan Co. raised its holdings in shares of Tapestry by 37.6% in the 3rd quarter. First Manhattan Co. now owns 51,862 shares of the luxury accessories retailer’s stock valued at $2,607,000 after acquiring an additional 14,178 shares in the last quarter. 89.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE TPR opened at $33.86 on Friday. The stock has a market cap of $9.81 billion, a P/E ratio of 12.59, a PEG ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.83 and a current ratio of 2.62. Tapestry Inc has a 1-year low of $31.91 and a 1-year high of $55.50.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 7th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.04). The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Tapestry had a net margin of 12.18% and a return on equity of 23.84%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. As a group, equities analysts expect that Tapestry Inc will post 2.62 earnings per share for the current year.

Several analysts have weighed in on TPR shares. Zacks Investment Research reaffirmed a “buy” rating and issued a $45.00 price target on shares of Tapestry in a report on Saturday, November 17th. Barclays raised Tapestry from an “equal weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a report on Friday, January 11th. Nomura set a $50.00 price target on Tapestry and gave the company a “buy” rating in a report on Monday, November 26th. Wells Fargo & Co lowered their price target on Tapestry from $58.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, January 2nd. Finally, Buckingham Research lowered their price target on Tapestry from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $50.15.

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Tapestry Profile

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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