Mizuho Securities USA LLC Sells 5,511 Shares of Tapestry, Inc. (NYSE:TPR)

Key Points

• Mizuho Securities USA LLC reduced its stake in Tapestry, Inc. by 25.0%, selling 5,511 shares and holding 16,576 shares valued at approximately $1.17 million after the transaction.
• Other institutional investors have increased their positions in Tapestry, with Harbour Investments Inc. boosting its stake by 120.1% in the first quarter.
• Tapestry's stock has received several analyst ratings adjustments, with TD Cowen upgrading to a "buy" and setting a target price of $100.00, while the consensus rating remains a "Moderate Buy" with an average price target of $101.56.

Mizuho Securities USA LLC decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,576 shares of the luxury accessories retailer's stock after selling 5,511 shares during the period. Mizuho Securities USA LLC's holdings in Tapestry were worth $1,167,000 at the end of the most recent reporting period.

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

Tapestry Trading Up 2.8%

Shares of TPR stock opened at $110.93 on Wednesday. Tapestry, Inc. has a 52-week low of $37.47 and a 52-week high of $113.08. The company has a 50-day simple moving average of $95.40 and a two-hundred day simple moving average of $82.11. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. The company has a market capitalization of $23.04 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.18 and a beta of 1.51.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Thursday, June 12th. Argus raised their target price on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Bank of America downgraded Tapestry from a "buy" rating to a "neutral" rating and upped their price target for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. The Goldman Sachs Group increased their price target on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Raymond James Financial restated an "outperform" rating and set a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.56.

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.

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