Invesco Ltd. Reduces Stock Position in Tapestry, Inc. (NYSE:TPR)

Key Points

• Invesco Ltd. reduced its stake in Tapestry, Inc. by 2.5%, selling 84,524 shares, and now holds approximately 1.62% of the company valued at $236.5 million.
• Hedge funds and institutional investors make up 90.77% of Tapestry's ownership, with other firms like Harbour Investments and Greenline Partners recently increasing their stakes.
• Despite mixed selling activities, Tapestry received several positive ratings from analysts, with the stock rated as a "Moderate Buy" and an average price target of $101.56.

Invesco Ltd. cut its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,359,014 shares of the luxury accessories retailer's stock after selling 84,524 shares during the quarter. Invesco Ltd. owned approximately 1.62% of Tapestry worth $236,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. increased 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 worth $25,000 after purchasing an additional 197 shares during the last quarter. Greenline Partners LLC purchased a new stake in Tapestry during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC increased 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 worth $34,000 after purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Tapestry during the 1st quarter worth approximately $35,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in Tapestry during the 1st quarter worth approximately $35,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TPR shares. Cowen reiterated a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Barclays reiterated an "overweight" rating and issued a $105.00 price target (up from $98.00) on shares of Tapestry in a report on Friday, July 11th. Argus boosted their price target on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Citigroup boosted 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. Finally, The Goldman Sachs Group boosted their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $101.56.

Tapestry Price Performance

Shares of TPR opened at $110.93 on Wednesday. The company has a market cap of $23.04 billion, a P/E ratio of 29.19, a PEG ratio of 2.18 and a beta of 1.51. The stock has a fifty day moving average price of $95.40 and a 200 day moving average price of $82.11. 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, Inc. has a 12 month low of $37.47 and a 12 month high of $113.08.

Tapestry Company 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.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.