Hodges Capital Management Inc. bought a new stake in Tapestry Inc (NYSE:TPR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 43,025 shares of the luxury accessories retailer’s stock, valued at approximately $1,903,000.
A number of other hedge funds also recently bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Tapestry in the fourth quarter valued at $1,957,000. Bank of The West bought a new stake in Tapestry in the fourth quarter valued at $441,000. Benedict Financial Advisors Inc. bought a new stake in Tapestry in the fourth quarter valued at $361,000. Cadence Capital Management LLC bought a new stake in Tapestry in the fourth quarter valued at $2,451,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Tapestry in the fourth quarter valued at $924,000. Institutional investors own 88.00% of the company’s stock.
Tapestry Inc (TPR) opened at $49.06 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.90 and a quick ratio of 1.25. Tapestry Inc has a 1 year low of $37.46 and a 1 year high of $50.71. The firm has a market capitalization of $13,916.50, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.70 and a beta of 0.59.
In related news, insider Sarah Dunn sold 6,229 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.23, for a total value of $300,424.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.98% of the company’s stock.
A number of equities research analysts have issued reports on the company. Piper Jaffray Companies set a $48.00 target price on Tapestry and gave the company a “hold” rating in a research note on Monday, February 5th. William Blair reissued an “outperform” rating on shares of Tapestry in a report on Tuesday. Bank of America raised their price target on Tapestry from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays raised their price target on Tapestry from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Robert W. Baird set a $49.00 price target on Tapestry and gave the company a “buy” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Tapestry currently has an average rating of “Buy” and a consensus target price of $50.23.
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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