Hartford Investment Management Co. boosted its holdings in Tapestry Inc (NYSE:TPR) by 10.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,856 shares of the luxury accessories retailer’s stock after purchasing an additional 4,623 shares during the quarter. Hartford Investment Management Co.’s holdings in Tapestry were worth $1,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPR. FMR LLC lifted its holdings in Tapestry by 19.8% in the 2nd quarter. FMR LLC now owns 8,097,454 shares of the luxury accessories retailer’s stock worth $378,232,000 after buying an additional 1,335,513 shares in the last quarter. Manning & Napier Group LLC raised its stake 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 purchasing an additional 5,147 shares in the last quarter. Bank of Montreal Can raised its stake 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 purchasing an additional 38,149 shares in the last quarter. Scout Investments Inc. acquired a new stake in shares of Tapestry in the 3rd quarter valued at about $17,990,000. Finally, First Manhattan Co. raised its stake 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 purchasing an additional 14,178 shares in the last quarter. 89.62% of the stock is owned by institutional investors and hedge funds.

NYSE TPR opened at $33.86 on Monday. Tapestry Inc has a 52 week low of $31.91 and a 52 week high of $55.50. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.20 and a beta of 0.76.

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

A number of equities research analysts have recently issued reports on TPR shares. Piper Jaffray Companies set a $52.00 target price on shares of Tapestry and gave the company a “buy” rating in a research note on Wednesday, October 31st. KeyCorp cut their target price on shares of Tapestry from $62.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday. They noted that the move was a valuation call. Cowen cut their target price on shares of Tapestry from $62.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $63.00 target price on shares of Tapestry in a research note on Monday, October 29th. Finally, Buckingham Research cut their target price on shares of Tapestry from $62.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. One investment 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 stock. The company presently has an average rating of “Buy” and an average target price of $49.93.

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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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