Mackenzie Financial Corp Has $712,000 Position in Tapestry, Inc. (NYSE:TPR)

Mackenzie Financial Corp raised its holdings in Tapestry, Inc. (NYSE:TPR) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,110 shares of the luxury accessories retailer’s stock after buying an additional 231 shares during the quarter. Mackenzie Financial Corp’s holdings in Tapestry were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TCW Group Inc. lifted its position in Tapestry by 2.8% during the 1st quarter. TCW Group Inc. now owns 675,369 shares of the luxury accessories retailer’s stock worth $47,553,000 after buying an additional 18,156 shares in the last quarter. LPL Financial LLC raised its holdings in Tapestry by 10.1% during the 1st quarter. LPL Financial LLC now owns 134,611 shares of the luxury accessories retailer’s stock worth $9,478,000 after purchasing an additional 12,353 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tapestry by 2.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,917 shares of the luxury accessories retailer’s stock worth $4,289,000 after purchasing an additional 1,309 shares during the last quarter. Empirical Finance LLC raised its holdings in Tapestry by 2.2% during the 1st quarter. Empirical Finance LLC now owns 20,337 shares of the luxury accessories retailer’s stock worth $1,432,000 after purchasing an additional 444 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in Tapestry during the 1st quarter worth about $1,209,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 0.5%

Shares of Tapestry stock opened at $112.05 on Thursday. The business has a fifty day simple moving average of $92.96 and a two-hundred day simple moving average of $81.07. Tapestry, Inc. has a 1 year low of $36.24 and a 1 year high of $112.58. The company has a market capitalization of $23.27 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.25 and a beta of 1.51. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.76 and a quick ratio of 1.22.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 51.84% and a net margin of 12.50%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. Research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 40,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the transaction, the chief executive officer owned 116,062 shares in the company, valued at $9,447,446.80. This trade represents a 25.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Manesh Dadlani sold 1,399 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $81.88, for a total value of $114,550.12. Following the transaction, the vice president owned 40,922 shares in the company, valued at $3,350,693.36. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TPR. Cowen raised Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, June 12th. Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. Barclays reissued an “overweight” rating and set a $105.00 target price (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Morgan Stanley upped their price target on Tapestry from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Citigroup upped their price target on Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.72.

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.