Landscape Capital Management L.L.C. reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 93.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,167 shares of the luxury accessories retailer’s stock after selling 440,214 shares during the period. Landscape Capital Management L.L.C.’s holdings in Tapestry were worth $938,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in Tapestry during the 3rd quarter valued at $30,000. Royal London Asset Management Ltd. acquired a new stake in Tapestry during the 4th quarter valued at $47,000. DB Wealth Management Group LLC acquired a new stake in Tapestry during the 4th quarter valued at $47,000. Chiron Capital Management LLC acquired a new stake in Tapestry during the 3rd quarter valued at $48,000. Finally, NEXT Financial Group Inc acquired a new stake in Tapestry during the 3rd quarter valued at $68,000. 85.85% of the stock is currently owned by institutional investors.

TPR stock opened at $40.95 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.56 and a quick ratio of 1.12. Tapestry, Inc. has a 52-week low of $10.18 and a 52-week high of $41.48. The company has a 50-day moving average of $35.27 and a two-hundred day moving average of $25.23. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of -25.59, a price-to-earnings-growth ratio of 1.28 and a beta of 1.33.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 4th. The luxury accessories retailer reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.15. Tapestry had a negative net margin of 9.22% and a positive return on equity of 11.91%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities analysts expect that Tapestry, Inc. will post 2.27 EPS for the current fiscal year.

In other Tapestry news, CEO Todd Kahn sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $40.06, for a total transaction of $801,200.00. Following the completion of the sale, the chief executive officer now directly owns 206,460 shares in the company, valued at $8,270,787.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Tapestry from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. They noted that the move was a valuation call. Telsey Advisory Group raised shares of Tapestry from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $46.00 in a research note on Tuesday, February 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tapestry from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. KeyCorp upped their price target on shares of Tapestry from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of Tapestry from $38.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.71.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, China, Hong Kong, Macau, Taiwan, Europe, Canada, South Korea, Malaysia, Singapore, Australia, and New Zealand. The company operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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