Axxcess Wealth Management LLC Acquires New Shares in Tapestry, Inc. (NYSE:TPR)

Axxcess Wealth Management LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,100 shares of the luxury accessories retailer’s stock, valued at approximately $298,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Tapestry by 0.6% in the third quarter. Vanguard Group Inc. now owns 31,554,418 shares of the luxury accessories retailer’s stock valued at $907,190,000 after purchasing an additional 173,111 shares during the last quarter. FMR LLC raised its position in Tapestry by 2.0% in the third quarter. FMR LLC now owns 14,018,492 shares of the luxury accessories retailer’s stock valued at $403,032,000 after purchasing an additional 280,959 shares during the last quarter. Victory Capital Management Inc. raised its position in Tapestry by 4.7% in the third quarter. Victory Capital Management Inc. now owns 6,823,763 shares of the luxury accessories retailer’s stock valued at $196,183,000 after purchasing an additional 305,658 shares during the last quarter. Ninety One UK Ltd raised its position in Tapestry by 12.7% in the fourth quarter. Ninety One UK Ltd now owns 5,321,308 shares of the luxury accessories retailer’s stock valued at $195,877,000 after purchasing an additional 597,715 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Tapestry by 28.2% in the third quarter. Ameriprise Financial Inc. now owns 5,249,047 shares of the luxury accessories retailer’s stock valued at $150,916,000 after purchasing an additional 1,154,808 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on TPR. Wells Fargo & Company increased their target price on Tapestry from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Telsey Advisory Group restated an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research report on Wednesday, March 27th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Thursday, February 29th. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group raised their price objective on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $47.81.

Tapestry Trading Down 0.0 %

Shares of TPR stock opened at $38.98 on Thursday. The stock has a market capitalization of $8.94 billion, a PE ratio of 9.84, a P/E/G ratio of 0.81 and a beta of 1.61. Tapestry, Inc. has a 1-year low of $25.99 and a 1-year high of $48.80. The business has a 50-day moving average of $43.78 and a 200 day moving average of $38.63. The company has a debt-to-equity ratio of 2.90, a current ratio of 6.25 and a quick ratio of 5.68.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.17. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.23 earnings per share for the current year.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.