Northwestern Mutual Wealth Management Co. Invests $383,000 in Tapestry Inc (TPR)

Northwestern Mutual Wealth Management Co. acquired a new stake in Tapestry Inc (NYSE:TPR) during the 4th quarter, HoldingsChannel reports. The fund acquired 8,661 shares of the luxury accessories retailer’s stock, valued at approximately $383,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mutual of America Capital Management LLC bought a new position in shares of Tapestry in the fourth quarter valued at about $4,639,000. Dupont Capital Management Corp bought a new position in shares of Tapestry in the fourth quarter valued at about $110,000. Bessemer Group Inc. bought a new position in shares of Tapestry in the fourth quarter valued at about $752,000. Security National Trust Co. bought a new position in shares of Tapestry in the fourth quarter valued at about $281,000. Finally, Ledyard National Bank bought a new position in shares of Tapestry in the fourth quarter valued at about $607,000. 88.00% of the stock is currently owned by institutional investors.

Shares of Tapestry Inc (TPR) opened at $50.10 on Thursday. Tapestry Inc has a one year low of $36.69 and a one year high of $50.71. The company has a quick ratio of 1.25, a current ratio of 1.74 and a debt-to-equity ratio of 0.64. The firm has a market cap of $14,250.00, a P/E ratio of 44.73, a PEG ratio of 1.67 and a beta of 0.59.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.19. Tapestry had a net margin of 9.62% and a return on equity of 20.71%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company posted $0.75 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. sell-side analysts anticipate that Tapestry Inc will post 2.39 earnings per share for the current year.

TPR has been the topic of several research analyst reports. KeyCorp set a $53.00 price objective on shares of Tapestry and gave the company a “buy” rating in a research report on Wednesday, October 11th. Needham & Company LLC initiated coverage on shares of Tapestry in a research report on Monday, December 18th. They issued a “hold” rating on the stock. UBS Group dropped their price objective on shares of Tapestry from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Canaccord Genuity set a $58.00 price target on shares of Tapestry and gave the stock a “buy” rating in a research report on Monday. Finally, Piper Jaffray Companies raised shares of Tapestry from a “neutral” rating to an “overweight” rating and set a $54.00 price target on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.23.

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Tapestry Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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