Tapestry, Inc. (NYSE:TPR) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 73.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,784 shares of the luxury accessories retailer’s stock after purchasing an additional 1,604 shares during the period. Blue Trust Inc.’s holdings in Tapestry were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPR. Waldron Private Wealth LLC bought a new position in Tapestry in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new position in Tapestry during the 3rd quarter worth $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tapestry in the second quarter worth $68,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares during the period. Finally, Transamerica Financial Advisors Inc. increased its holdings in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after purchasing an additional 1,591 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry 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 completion of the sale, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Stock Up 0.9 %

Shares of Tapestry stock opened at $73.61 on Tuesday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $76.49. The company has a market cap of $17.15 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.07 and a beta of 1.58. 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 stock has a 50-day moving average price of $66.81 and a 200 day moving average price of $52.43.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday. Guggenheim upped their price target on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets raised their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Evercore ISI upped their target price on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group increased their price target on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.28.

Tapestry Profile

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.