City Holding Co. decreased its position in shares of Tapestry Inc (NYSE:TPR) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,165 shares of the luxury accessories retailer’s stock after selling 375 shares during the quarter. City Holding Co.’s holdings in Tapestry were worth $168,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Claybrook Capital LLC purchased a new stake in shares of Tapestry during the fourth quarter worth approximately $34,000. Oregon Public Employees Retirement Fund increased its position in shares of Tapestry by 1,484.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock worth $36,000 after purchasing an additional 1,136,452 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Tapestry by 47.1% during the fourth quarter. Advisory Services Network LLC now owns 1,374 shares of the luxury accessories retailer’s stock worth $46,000 after purchasing an additional 440 shares in the last quarter. Pearl River Capital LLC purchased a new stake in shares of Tapestry during the fourth quarter worth approximately $66,000. Finally, Moody National Bank Trust Division increased its position in shares of Tapestry by 21.2% during the fourth quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 366 shares in the last quarter. 91.24% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on TPR shares. KeyCorp dropped their price target on Tapestry from $62.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, February 8th. They noted that the move was a valuation call. Cowen lowered their price objective on Tapestry from $62.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, February 8th. They noted that the move was a valuation call. Guggenheim reissued a “buy” rating and set a $52.00 price objective on shares of Tapestry in a research note on Tuesday, January 29th. UBS Group lowered their price objective on Tapestry from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Zacks Investment Research raised Tapestry from a “sell” rating to a “hold” rating and set a $38.00 price objective on the stock in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $48.50.
Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Tapestry had a return on equity of 23.84% and a net margin of 12.18%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business earned $0.54 EPS. Tapestry’s revenue was up .7% on a year-over-year basis. On average, research analysts expect that Tapestry Inc will post 2.6 earnings per share for the current fiscal year.
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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.
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