Lee Danner & Bass Inc. increased its position in Tapestry Inc (NYSE:TPR) by 4.0% in the second quarter, HoldingsChannel reports. The firm owned 86,405 shares of the luxury accessories retailer’s stock after purchasing an additional 3,315 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Tapestry were worth $4,071,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Stelac Advisory Services LLC acquired a new position in Tapestry in the first quarter worth about $130,000. Stratos Wealth Partners LTD. acquired a new position in Tapestry in the first quarter worth about $155,000. LifePlan Financial Group Inc acquired a new position in Tapestry in the second quarter worth about $142,000. Pitcairn Co. acquired a new position in Tapestry in the first quarter worth about $201,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Tapestry in the first quarter worth about $207,000. Institutional investors and hedge funds own 89.66% of the company’s stock.
TPR has been the subject of a number of research reports. Robert W. Baird set a $60.00 price target on Tapestry and gave the stock a “buy” rating in a research note on Monday, April 16th. Deutsche Bank lifted their price target on Tapestry to $64.00 and gave the stock a “buy” rating in a research note on Thursday, April 19th. They noted that the move was a valuation call. Buckingham Research started coverage on Tapestry in a research note on Friday, April 20th. They issued a “buy” rating and a $62.00 price target for the company. Zacks Investment Research upgraded Tapestry from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Friday, April 20th. Finally, Wells Fargo & Co set a $60.00 target price on Tapestry and gave the company a “buy” rating in a research note on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Tapestry presently has an average rating of “Buy” and a consensus target price of $54.48.
Tapestry Company Profile
Tapestry, Inc provides luxury accessories and lifestyle brands. It offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, sunglasses, watches, novelty accessories, and ready-to-wear for men.
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