American Financial Group Inc. bought a new stake in shares of Tapestry Inc (NYSE:TPR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 385,000 shares of the luxury accessories retailer’s stock, valued at approximately $17,029,000. Tapestry makes up about 1.8% of American Financial Group Inc.’s portfolio, making the stock its 19th biggest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oak Point Wealth Management acquired a new stake in shares of Tapestry in the 4th quarter worth $469,000. Point View Wealth Management Inc. acquired a new stake in shares of Tapestry in the 3rd quarter worth $552,000. City Holding Co. acquired a new stake in shares of Tapestry in the 4th quarter worth $333,000. Sheets Smith Wealth Management acquired a new stake in shares of Tapestry in the 4th quarter worth $760,000. Finally, CWM LLC acquired a new stake in shares of Tapestry in the 4th quarter worth $5,978,000. 87.97% of the stock is currently owned by institutional investors and hedge funds.
Tapestry Inc (NYSE:TPR) opened at $50.06 on Monday. The firm has a market capitalization of $14,240.00, a PE ratio of 44.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.59. Tapestry Inc has a 52 week low of $37.53 and a 52 week high of $50.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.51 and a current ratio of 1.90.
In related news, CEO Victor Luis sold 123,780 shares of Tapestry stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.02, for a total value of $6,191,475.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sarah Dunn sold 6,229 shares of Tapestry stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $48.23, for a total value of $300,424.67. The disclosure for this sale can be found here. Insiders have sold a total of 134,366 shares of company stock valued at $6,705,960 in the last quarter. Company insiders own 0.98% of the company’s stock.
A number of analysts have recently weighed in on TPR shares. Zacks Investment Research cut Tapestry from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Susquehanna Bancshares started coverage on Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Citigroup started coverage on Tapestry in a research report on Thursday, November 2nd. They issued a “positive” rating and a $50.00 price objective for the company. Canaccord Genuity set a $58.00 price objective on Tapestry and gave the stock a “buy” rating in a research report on Sunday, January 7th. Finally, Robert W. Baird set a $50.00 price objective on Tapestry and gave the stock a “buy” rating in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Tapestry currently has a consensus rating of “Buy” and a consensus target price of $50.23.
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Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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