XTX Topco Ltd Reduces Holdings in Tapestry, Inc. (NYSE:TPR)

XTX Topco Ltd trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 59.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,572 shares of the luxury accessories retailer’s stock after selling 5,221 shares during the period. XTX Topco Ltd’s holdings in Tapestry were worth $252,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capricorn Fund Managers Ltd boosted its position in Tapestry by 93.9% during the first quarter. Capricorn Fund Managers Ltd now owns 115,000 shares of the luxury accessories retailer’s stock worth $8,097,000 after acquiring an additional 55,677 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Tapestry during the first quarter worth approximately $415,000. Federated Hermes Inc. boosted its position in Tapestry by 4,221.4% during the first quarter. Federated Hermes Inc. now owns 30,336 shares of the luxury accessories retailer’s stock worth $2,136,000 after acquiring an additional 29,634 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Tapestry by 4,932.2% during the first quarter. Meeder Asset Management Inc. now owns 8,605 shares of the luxury accessories retailer’s stock worth $606,000 after acquiring an additional 8,434 shares during the last quarter. Finally, Meeder Advisory Services Inc. acquired a new stake in Tapestry during the first quarter worth approximately $241,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Tapestry from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Raymond James Financial restated an “outperform” rating and set a $115.00 target price (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Barclays reiterated an “overweight” rating and issued a $105.00 price target (up previously from $98.00) on shares of Tapestry in a report on Friday, July 11th. Telsey Advisory Group restated an “outperform” rating and set a $125.00 price objective (up from $92.00) on shares of Tapestry in a report on Monday. Finally, Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Tapestry Trading Down 1.0%

Shares of NYSE:TPR opened at $108.01 on Tuesday. The company has a 50 day moving average of $94.75 and a 200-day moving average of $81.91. The firm has a market cap of $22.43 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.20 and a beta of 1.51. Tapestry, Inc. has a twelve month low of $37.13 and a twelve month high of $113.08. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 1.59.

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.