Nuveen LLC Buys Shares of 839,843 Tapestry, Inc. (NYSE:TPR)

Key Points

• Nuveen LLC has acquired a significant stake in Tapestry, Inc., purchasing 839,843 shares valued at approximately $59 million during the first quarter.
• Analysts have recently raised their price targets for Tapestry, with firms like TD Cowen and Wells Fargo setting new targets at $100.00 and $105.00 respectively.
• Tapestry’s stock currently shows a 1-year high of $114.05 and is trading at around $113.65, with institutional investors holding approximately 90.77% of the company's shares.

Nuveen LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 839,843 shares of the luxury accessories retailer's stock, valued at approximately $59,133,000. Nuveen LLC owned approximately 0.41% of Tapestry at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. grew 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 purchasing an additional 197 shares in the last quarter. Greenline Partners LLC acquired a new stake in shares of Tapestry in the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC lifted its position in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry in the first quarter worth about $35,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry in the first quarter worth about $35,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Thursday, June 12th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $100.00 price target (up previously from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Barclays reaffirmed an "overweight" rating and issued a $105.00 price target (up previously from $98.00) on shares of Tapestry in a research report on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $112.00 price target (up previously from $73.00) on shares of Tapestry in a research report on Monday, August 4th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.56.

Tapestry Trading Up 2.5%

TPR stock opened at $113.65 on Thursday. Tapestry, Inc. has a 1-year low of $37.79 and a 1-year high of $114.05. The firm has a market cap of $23.60 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.23 and a beta of 1.51. The business's 50 day moving average is $96.10 and its 200-day moving average is $82.33. 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 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.

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