M&G Plc Buys 6,674 Shares of Tapestry, Inc. (NYSE:TPR)

M&G Plc raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 2.9% during the second quarter, HoldingsChannel reports. The fund owned 238,905 shares of the luxury accessories retailer’s stock after acquiring an additional 6,674 shares during the quarter. M&G Plc’s holdings in Tapestry were worth $10,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Fidelis Capital Partners LLC bought a new position in Tapestry during the 1st quarter valued at about $35,000. BNP Paribas purchased a new position in shares of Tapestry during the first quarter valued at approximately $38,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after buying an additional 328 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock worth $46,000 after buying an additional 1,209 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Tapestry by 334.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock worth $55,000 after acquiring an additional 1,158 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. OTR Global reiterated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. Wells Fargo & Company dropped their price objective on shares of Tapestry from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Bernstein Bank boosted their price objective on shares of Tapestry from $46.00 to $48.00 in a research note on Thursday, May 9th. JPMorgan Chase & Co. dropped their target price on Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, StockNews.com raised Tapestry from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.56.

Tapestry Trading Up 2.0 %

Shares of NYSE:TPR opened at $38.24 on Wednesday. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 52-week low of $25.99 and a 52-week high of $48.80. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.79 and a beta of 1.59. The business has a 50-day moving average price of $41.05 and a 200-day moving average price of $42.58.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 2,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the sale, the vice president now owns 37,173 shares in the company, valued at $1,569,815.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is owned by corporate insiders.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.