Fintel reports that on August 11, 2023, Edward Jones downgraded their outlook for Tapestry (NYSE:TPR) from Buy to Hold.
Analyst Price Forecast Suggests 50.96% Upside
As of August 2, 2023, the average one-year price target for Tapestry is 52.34. The forecasts range from a low of 41.41 to a high of $63.00. The average price target represents an increase of 50.96% from its latest reported closing price of 34.67.
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 1344 funds or institutions reporting positions in Tapestry. This is an increase of 26 owner(s) or 1.97% in the last quarter. Average portfolio weight of all funds dedicated to TPR is 0.25%, a decrease of 3.27%. Total shares owned by institutions decreased in the last three months by 2.37% to 263,391K shares. The put/call ratio of TPR is 0.95, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 14,074K shares representing 6.07% ownership of the company. In it’s prior filing, the firm reported owning 16,570K shares, representing a decrease of 17.73%. The firm decreased its portfolio allocation in TPR by 24.78% 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
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