Hodges Capital Management Inc. Buys New Position in Tapestry Inc (TPR)

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.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.21. Tapestry had a return on equity of 23.68% and a net margin of 6.14%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $0.75 EPS. Tapestry’s revenue for the quarter was up 35.1% on a year-over-year basis. research analysts expect that Tapestry Inc will post 2.56 earnings per share for the current fiscal year.

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.

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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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