Sentry Investment Management LLC bought a new stake in shares of Tapestry Inc (NYSE:TPR) during the fourth quarter, Holdings Channel reports. The fund bought 21,931 shares of the luxury accessories retailer’s stock, valued at approximately $970,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hexavest Inc. bought a new stake in shares of Tapestry during the 4th quarter valued at about $106,000. First Dallas Securities Inc. bought a new stake in shares of Tapestry during the 4th quarter valued at about $108,000. Dupont Capital Management Corp bought a new stake in shares of Tapestry during the 4th quarter valued at about $110,000. Cerebellum GP LLC bought a new stake in shares of Tapestry during the 4th quarter valued at about $118,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Tapestry during the 4th quarter valued at about $163,000. 87.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on TPR. Piper Jaffray Companies set a $48.00 price target on shares of Tapestry and gave the company a “hold” rating in a research report on Monday, February 5th. William Blair reissued an “outperform” rating on shares of Tapestry in a research report on Tuesday, February 6th. Barclays lifted their price target on shares of Tapestry from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Robert W. Baird set a $49.00 price target on shares of Tapestry and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Zacks Investment Research raised shares of Tapestry from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Tapestry presently has an average rating of “Buy” and a consensus target price of $50.23.

In related news, insider Sarah Dunn sold 6,229 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $48.23, for a total transaction of $300,424.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd Kahn sold 4,357 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.13, for a total transaction of $214,059.41. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Tapestry Inc (NYSE TPR) opened at $50.14 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.51 and a debt-to-equity ratio of 0.64. Tapestry Inc has a twelve month low of $37.53 and a twelve month high of $50.71. The firm has a market cap of $14,218.48, a P/E ratio of 20.37, a PEG ratio of 1.73 and a beta of 0.59.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. analysts anticipate that Tapestry Inc will post 2.56 EPS for the current fiscal year.

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Tapestry Profile

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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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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