Exane Asset Management purchased a new stake in shares of Tapestry Inc (NYSE:TPR) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,368 shares of the luxury accessories retailer’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lenox Wealth Management Inc. boosted its position in Tapestry by 827.1% during the 4th quarter. Lenox Wealth Management Inc. now owns 2,021 shares of the luxury accessories retailer’s stock valued at $340,000 after buying an additional 1,803 shares during the period. Moody National Bank Trust Division boosted its position in Tapestry by 21.2% during the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock valued at $70,000 after buying an additional 366 shares during the period. ETF Managers Group LLC boosted its position in Tapestry by 18.0% during the 4th quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock valued at $85,000 after buying an additional 384 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Tapestry during the 3rd quarter valued at $145,000. Finally, Meeder Asset Management Inc. purchased a new stake in Tapestry during the 4th quarter valued at $105,000. 89.44% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. Barclays set a $41.00 price target on shares of Tapestry and gave the company a “buy” rating in a research report on Saturday. Evercore ISI cut shares of Tapestry to a “hold” rating in a research report on Monday, October 15th. Needham & Company LLC raised shares of Tapestry from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, October 16th. They noted that the move was a valuation call. Wells Fargo & Co set a $58.00 target price on shares of Tapestry and gave the stock a “buy” rating in a research report on Thursday, December 13th. Finally, KeyCorp dropped their target price on shares of Tapestry from $62.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company’s stock. Tapestry presently has a consensus rating of “Buy” and a consensus target price of $49.93.

NYSE:TPR opened at $33.86 on Monday. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.83. Tapestry Inc has a fifty-two week low of $31.91 and a fifty-two week high of $55.50.

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

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About Tapestry

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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