In a series of recent events, Envestnet Portfolio Solutions Inc., Franklin Resources Inc., Dimensional Fund Advisors LP, and other financial entities have increased their stock position in Tapestry, Inc. (NYSE:TPR). Despite stagnating revenue, some investors maintain a bullish view on TPR, attributing its appeal to strategic expansion and innovative efforts. TPR is also facing regulatory scrutiny from FTC over Capri acquisition. Earnings-wise, the firm has had a mixed bag with some quarters beating estimates, contrasting with revenue declines year-on-year (Y/Y) and losses in Q3.
Its reliance on international revenue is also under the spotlight. Despite these aspects, various entities – including Panagora Asset Management and Mitsubishi UFJ Asset Management Co. Ltd – have boosted their stakes while others like Vanguard and the Swiss National Bank trimmed their positions. Jittery sentiments stemmed from reports of FTC's action to potentially block TPR's proposed transaction with Capri Holdings Limited. Notably, Tapestry has seen a 62.5% rise in stock value in six months and has shown moderate growth throughout the year. Future expectations are a mixed bag, with earnings anticipated to decline in some quarters, while the firm also plans on strategic innovation and global expansion.
Tapestry TPR News Analytics from Mon, 02 Oct 2023 07:00:00 GMT to Thu, 23 May 2024 10:04:55 GMT - Rating 2 - Innovation 3 - Information 6 - Rumor 4
