Tapestry Inc (NYSE:TPR) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of Tapestry Inc (NYSE:TPR) by 1,404.9% during the 3rd quarter, Holdings Channel reports. The firm owned 232,477 shares of the luxury accessories retailer’s stock after buying an additional 217,029 shares during the period. SG Americas Securities LLC’s holdings in Tapestry were worth $6,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TPR. Cognios Capital LLC increased its stake in shares of Tapestry by 10.3% during the second quarter. Cognios Capital LLC now owns 73,911 shares of the luxury accessories retailer’s stock worth $2,344,000 after buying an additional 6,899 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Tapestry during the second quarter worth approximately $1,108,000. ARGA Investment Management LP purchased a new stake in shares of Tapestry during the third quarter worth approximately $2,427,000. National Pension Service increased its stake in shares of Tapestry by 6.5% during the second quarter. National Pension Service now owns 405,125 shares of the luxury accessories retailer’s stock worth $12,855,000 after buying an additional 24,636 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Tapestry by 1.7% during the third quarter. Rhumbline Advisers now owns 516,164 shares of the luxury accessories retailer’s stock worth $13,446,000 after buying an additional 8,415 shares during the period. 88.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of TPR traded up $0.16 during mid-day trading on Friday, reaching $27.23. 4,969,634 shares of the company’s stock were exchanged, compared to its average volume of 4,901,814. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.82 and a quick ratio of 1.94. The stock has a market capitalization of $7.76 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.14 and a beta of 1.02. The business’s fifty day simple moving average is $25.78 and its 200-day simple moving average is $27.71. Tapestry Inc has a 52-week low of $18.54 and a 52-week high of $42.75.

Tapestry (NYSE:TPR) last announced its earnings results on Tuesday, November 5th. The luxury accessories retailer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Tapestry had a net margin of 9.01% and a return on equity of 21.17%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Equities research analysts predict that Tapestry Inc will post 2.52 earnings per share for the current year.

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TPR has been the topic of a number of recent research reports. Goldman Sachs Group lowered shares of Tapestry from a “buy” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $24.00 in a research note on Friday, August 16th. Robert W. Baird set a $43.00 price target on shares of Tapestry and gave the company a “buy” rating in a research note on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target on shares of Tapestry in a research note on Wednesday, October 30th. Credit Suisse Group lowered shares of Tapestry from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $38.00 to $22.00 in a research note on Thursday, August 15th. Finally, Deutsche Bank set a $33.00 price target on shares of Tapestry and gave the company a “buy” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Tapestry has an average rating of “Hold” and a consensus target price of $33.13.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

Further Reading: Strangles

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry Inc (NYSE:TPR).

Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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