Sumitomo Mitsui Trust Group Inc. Has $365,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Tapestry, Inc. (NYSE:TPR) by 42.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,779 shares of the luxury accessories retailer’s stock after purchasing an additional 2,326 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tapestry were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPR. Blair William & Co. IL bought a new stake in Tapestry in the 1st quarter valued at about $216,000. UniSuper Management Pty Ltd increased its position in Tapestry by 845.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 18,729 shares of the luxury accessories retailer’s stock valued at $889,000 after buying an additional 16,748 shares in the last quarter. Bessemer Group Inc. increased its position in Tapestry by 1,328.8% in the 1st quarter. Bessemer Group Inc. now owns 30,148 shares of the luxury accessories retailer’s stock valued at $1,432,000 after buying an additional 28,038 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Tapestry by 4.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 149,304 shares of the luxury accessories retailer’s stock valued at $7,095,000 after buying an additional 6,813 shares in the last quarter. Finally, Natixis increased its position in Tapestry by 62.3% in the 1st quarter. Natixis now owns 19,788 shares of the luxury accessories retailer’s stock valued at $940,000 after buying an additional 7,593 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of research analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $57.00 target price on shares of Tapestry in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. UBS Group decreased their price objective on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Finally, Robert W. Baird boosted their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.78.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is owned by company insiders.

Tapestry Price Performance

Tapestry stock opened at $55.30 on Thursday. Tapestry, Inc. has a 12 month low of $30.20 and a 12 month high of $58.49. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The business’s 50 day simple moving average is $47.41 and its 200 day simple moving average is $43.32. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.98 and a beta of 1.53.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.53%. Tapestry’s payout ratio is 40.46%.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.