Stratos Investment Management LLC Trims Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Stratos Investment Management LLC decreased its stake in Tapestry, Inc. (NYSE:TPR) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,196 shares of the luxury accessories retailer’s stock after selling 1,005 shares during the quarter. Stratos Investment Management LLC’s holdings in Tapestry were worth $666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Tapestry during the second quarter worth about $311,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Tapestry by 7.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,118 shares of the luxury accessories retailer’s stock worth $519,000 after purchasing an additional 884 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Tapestry during the second quarter worth about $203,000. Cetera Investment Advisers grew its position in shares of Tapestry by 4.7% during the second quarter. Cetera Investment Advisers now owns 55,669 shares of the luxury accessories retailer’s stock worth $2,382,000 after purchasing an additional 2,513 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Tapestry during the second quarter worth about $1,025,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TPR shares. TD Cowen cut Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research report on Tuesday, October 29th. Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Barclays upgraded Tapestry from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $87.00 in a research report on Wednesday, January 8th. Bank of America increased their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Guggenheim increased their price target on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.28.

Tapestry Price Performance

Shares of TPR stock opened at $73.40 on Thursday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $76.49. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The firm has a market capitalization of $17.10 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.07 and a beta of 1.58. The stock has a 50 day moving average price of $67.29 and a 200 day moving average price of $52.80.

Tapestry Profile

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.