Fintel reports that on August 1, 2023, Barclays upgraded their outlook for Tapestry (NYSE:TPR) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 18.36% Upside
As of July 6, 2023, the average one-year price target for Tapestry is 51.07. The forecasts range from a low of 38.68 to a high of $63.00. The average price target represents an increase of 18.36% from its latest reported closing price of 43.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Tapestry is 6,968MM, an increase of 4.53%. The projected annual non-GAAP EPS is 4.22.
What is the Fund Sentiment?
There are 1350 funds or institutions reporting positions in Tapestry. This is an increase of 41 owner(s) or 3.13% in the last quarter. Average portfolio weight of all funds dedicated to TPR is 0.25%, a decrease of 2.28%. Total shares owned by institutions increased in the last three months by 0.13% to 266,064K shares. The put/call ratio of TPR is 1.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 16,570K shares representing 7.15% ownership of the company. In it’s prior filing, the firm reported owning 15,019K shares, representing an increase of 9.36%. The firm increased its portfolio allocation in TPR by 15.42% over the last quarter.
Franklin Resources holds 8,325K shares representing 3.59% ownership of the company. In it’s prior filing, the firm reported owning 11,045K shares, representing a decrease of 32.68%. The firm decreased its portfolio allocation in TPR by 17.62% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,325K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 7,319K shares, representing an increase of 0.09%. The firm increased its portfolio allocation in TPR by 4.62% over the last quarter.
SEEGX – JPMorgan Large Cap Growth Fund Class I holds 7,051K shares representing 3.04% ownership of the company. In it’s prior filing, the firm reported owning 5,704K shares, representing an increase of 19.10%. The firm increased its portfolio allocation in TPR by 9.82% over the last quarter.
Victory Capital Management holds 6,518K shares representing 2.81% ownership of the company. In it’s prior filing, the firm reported owning 5,628K shares, representing an increase of 13.66%. The firm decreased its portfolio allocation in TPR by 30.92% over the last quarter.
Tapestry Background Information
(This description is provided by the company.)
Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The Company’s portfolio includes Coach, Kate Spade and Stuart Weitzman. The Company and its brands are founded upon a creative and consumer-led view of luxury that stands for inclusivity and approachability. Each of Tapestry’s brands are unique and independent, while sharing a commitment to innovation and authenticity defined by distinctive products and differentiated customer experiences across channels and geographies.
This article originally appeared on Fintel
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
