Shares of Tapestry rose to $82.13 during today's afternoon trading session. Despite the 11.9% change, the Large-Cap Apparel Manufacturing company still trades 12.6% above its average analyst target price of $72.94. So there may be further downside for the Apparel Manufacturing stock. Tapestry has target prices ranging from $52.0 to $93.0 per share, and its average rating is buy.
The stock has an above average percentage of its shares sold short at 10.1%, and a short ratio of 4.56. The company's insiders own 0.32% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 89.0% of Tapestry's shares being owned by this investor type.
Institutions Invested in Tapestry
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 13% | 30,877,363 | $2,535,957,738 |
| 2024-09-30 | FMR, LLC | 7% | 15,920,288 | $1,307,533,209 |
| 2024-09-30 | Blackrock Inc. | 6% | 14,396,142 | $1,182,355,102 |
| 2024-09-30 | State Street Corporation | 4% | 8,245,291 | $677,185,727 |
| 2024-09-30 | Ameriprise Financial, Inc. | 3% | 7,722,059 | $634,212,684 |
| 2024-09-30 | Charles Schwab Investment Management, Inc. | 3% | 7,614,558 | $625,383,627 |
| 2024-09-30 | Geode Capital Management, LLC | 2% | 5,588,879 | $459,014,616 |
| 2024-09-30 | Invesco Ltd. | 2% | 4,845,111 | $397,928,953 |
| 2024-09-30 | Capital Research Global Investors | 2% | 4,811,331 | $395,154,601 |
| 2024-12-31 | Pacer Advisors, Inc. | 2% | 4,530,109 | $372,057,839 |
Besides an analyst belief that shares are overpriced, other market factors point to there being negative market sentiment on Tapestry.
