Financial Counselors Inc. bought a new position in Tapestry Inc (NYSE:TPR) in the second quarter, HoldingsChannel reports. The fund bought 6,050 shares of the luxury accessories retailer’s stock, valued at approximately $283,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stelac Advisory Services LLC acquired a new stake in Tapestry during the 1st quarter valued at $130,000. Stratos Wealth Partners LTD. acquired a new stake in Tapestry during the 1st quarter valued at $155,000. LifePlan Financial Group Inc acquired a new stake in Tapestry during the 2nd quarter valued at $142,000. Pitcairn Co. acquired a new stake in Tapestry during the 1st quarter valued at $201,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in Tapestry during the 1st quarter valued at $207,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Tapestry opened at $47.93 on Friday, Marketbeat Ratings reports. Tapestry Inc has a 12-month low of $38.70 and a 12-month high of $55.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.83 and a current ratio of 2.66. The firm has a market capitalization of $13.17 billion, a PE ratio of 22.29, a P/E/G ratio of 1.39 and a beta of 0.40.

A number of research firms recently weighed in on TPR. Guggenheim reaffirmed a “buy” rating and set a $65.00 price target on shares of Tapestry in a report on Friday, April 27th. Goldman Sachs Group began coverage on Tapestry in a report on Monday, June 25th. They set a “buy” rating and a $56.00 price target for the company. Oppenheimer raised their price target on Tapestry from $60.00 to $65.00 in a report on Monday, April 30th. Robert W. Baird set a $60.00 price target on Tapestry and gave the company a “buy” rating in a report on Monday, April 16th. Finally, Canaccord Genuity set a $59.00 price objective on Tapestry and gave the company a “buy” rating in a research report on Friday, April 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $54.48.

Tapestry Profile

Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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