25,237 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has made a new investment in Tapestry, Inc., purchasing 25,237 shares valued at approximately $1.78 million in the first quarter.
• Tapestry's CEO Todd Kahn sold 40,000 shares for over $3.25 million, resulting in a 25.63% decrease in his ownership of the company's stock.
• Several brokerages have upgraded their ratings on Tapestry, with Raymond James raising the price target to $115.00 and others maintaining a generally positive outlook with an average price target of $99.72.

Aigen Investment Management LP purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 25,237 shares of the luxury accessories retailer's stock, valued at approximately $1,777,000.

Other hedge funds have also added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Greenline Partners LLC acquired a new stake in Tapestry during the 4th quarter valued at $29,000. MorganRosel Wealth Management LLC acquired a new stake in Tapestry during the 1st quarter valued at $35,000. Opal Wealth Advisors LLC acquired a new stake in Tapestry during the 1st quarter valued at $35,000. Finally, Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

Shares of TPR traded up $2.97 during trading hours on Tuesday, hitting $110.93. 3,803,535 shares of the company were exchanged, compared to its average volume of 3,995,746. The company has a market cap of $23.04 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.18 and a beta of 1.51. Tapestry, Inc. has a fifty-two week low of $37.47 and a fifty-two week high of $113.08. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 1.59. The firm's fifty day moving average is $95.40 and its 200 day moving average is $82.11.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price target (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Citigroup raised their price target on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. The Goldman Sachs Group upped their price objective on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $100.00 price objective (up from $90.00) on shares of Tapestry in a report on Wednesday, May 14th. Finally, Morgan Stanley upped their price objective on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.56.

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.