Mirae Asset Global Investments Co. Ltd. Has $12.56 Million Position in Tapestry, Inc. (NYSE:TPR)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,705 shares of the luxury accessories retailer’s stock after buying an additional 31,002 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tapestry were worth $12,562,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after purchasing an additional 30,121 shares during the period. Assenagon Asset Management S.A. bought a new position in Tapestry during the third quarter worth $5,446,000. Valley Wealth Managers Inc. lifted its holdings in Tapestry by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after buying an additional 8,833 shares during the period. Decker Retirement Planning Inc. bought a new stake in Tapestry during the fourth quarter valued at $3,437,000. Finally, Westfield Capital Management Co. LP grew its holdings in Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after acquiring an additional 219,544 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were 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 $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

Tapestry Stock Up 11.8 %

Tapestry stock opened at $82.07 on Friday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $87.87. 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’s 50-day simple moving average is $67.72 and its 200 day simple moving average is $53.01. The stock has a market cap of $19.13 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. During the same period in the prior year, the firm posted $1.63 EPS. Research analysts predict that Tapestry, Inc. will post 4.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TPR. Wells Fargo & Company upped their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday. Barclays raised shares of Tapestry from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $57.00 to $87.00 in a research report on Wednesday, January 8th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Tuesday, October 29th. Citigroup raised their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, UBS Group upped their price objective on shares of Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.28.

Tapestry Company 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.