Atlas Capital Advisors Inc. Increases Position in Tapestry, Inc. (NYSE:TPR)

Atlas Capital Advisors Inc. lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 166.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,377 shares of the luxury accessories retailer’s stock after acquiring an additional 2,110 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Tapestry were worth $238,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tapestry during the first quarter worth about $1,708,000. Curat Global LLC purchased a new stake in shares of Tapestry during the first quarter worth about $382,000. Nisa Investment Advisors LLC increased its position in shares of Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock worth $4,460,000 after acquiring an additional 9,049 shares during the last quarter. Allworth Financial LP increased its position in shares of Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after acquiring an additional 11,679 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Tapestry in the first quarter worth about $1,476,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Up 0.5%

NYSE TPR opened at $108.99 on Monday. The company has a market capitalization of $22.64 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.20 and a beta of 1.51. Tapestry, Inc. has a 1-year low of $37.13 and a 1-year high of $113.08. The firm’s fifty day simple moving average is $94.16 and its 200-day simple moving average is $81.67. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 1.59.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Tapestry had a net margin of 12.50% and a return on equity of 51.84%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TPR has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Tapestry from $104.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. Morgan Stanley lifted their price target on Tapestry from $90.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Telsey Advisory Group reiterated an “outperform” rating and issued a $92.00 price target on shares of Tapestry in a research note on Friday, May 9th. Finally, UBS Group reiterated a “neutral” rating and issued a $112.00 price target (up from $73.00) on shares of Tapestry in a research note on Monday, August 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.72.

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.