Tapestry, Inc. (NYSE:TPR) Shares Bought by M&G Plc

M&G Plc increased its stake in Tapestry, Inc. (NYSE:TPR) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 238,905 shares of the luxury accessories retailer’s stock after acquiring an additional 6,674 shares during the period. M&G Plc owned approximately 0.10% of Tapestry worth $10,273,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TPR. Fidelis Capital Partners LLC purchased a new position in shares of Tapestry in the 1st quarter worth about $35,000. BNP Paribas acquired a new stake in Tapestry in the 1st quarter valued at $38,000. Massmutual Trust Co. FSB ADV raised its position in Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Tapestry by 3,778.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Tapestry in the first quarter worth about $69,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $42.23, for a total transaction of $105,575.00. Following the completion of the sale, the vice president now directly owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.93% of the company’s stock.

Tapestry Price Performance

TPR opened at $38.24 on Wednesday. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $8.79 billion, a P/E ratio of 10.12, a PEG ratio of 0.79 and a beta of 1.59. The stock has a fifty day moving average of $41.05 and a 200-day moving average of $42.58.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TPR shares. JPMorgan Chase & Co. reduced their price target on Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Argus restated a “buy” rating and issued a $52.00 target price on shares of Tapestry in a research note on Tuesday, June 18th. Wells Fargo & Company dropped their price target on shares of Tapestry from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.56.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.