Top 5 Luxury Clothing Stocks to Buy

4. Tapestry, Inc. (NYSE:TPR)

Number of Hedge Fund Holders: 38

The owner of Coach, Kate Spade New York and Stuart Weitzman, Tapestry, Inc. (NYSE:TPR) ranks 4th in our list of the top luxury clothing stocks to buy according to hedge funds. As of the end of the fourth quarter of 2022, 38 hedge funds tracked by Insider Monkey had stakes in Tapestry, Inc. (NYSE:TPR). The net worth of these hedge funds’ stakes was $559 million. The biggest stakeholder of Tapestry, Inc. (NYSE:TPR) was Aaron Cowen’s Suvretta Capital Management which owns an $83 million stake in the company.

Tapestry, Inc. (NYSE:TPR) is a strong dividend stock. Tapestry, Inc. (NYSE:TPR) made it to the list of dividend stocks shared by UBS earlier this year. The firm said that these dividend stocks were picked up by its machine learning model. UBS added that these stocks are based on “strong relative dividend growth prediction over the next 6 months according to our machine learning model.”