Atria Investments Inc Sells 2,148 Shares of Tapestry, Inc. (NYSE:TPR)

Atria Investments Inc cut its stake in Tapestry, Inc. (NYSE:TPR) by 22.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,288 shares of the luxury accessories retailer’s stock after selling 2,148 shares during the period. Atria Investments Inc’s holdings in Tapestry were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TPR. Pacer Advisors Inc. grew its position in shares of Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after buying an additional 2,087,586 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tapestry by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after purchasing an additional 165,406 shares during the period. Bank of New York Mellon Corp grew its holdings in Tapestry by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after purchasing an additional 46,760 shares during the period. AQR Capital Management LLC grew its holdings in Tapestry by 235.9% during the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares during the period. Finally, Fiera Capital Corp grew its holdings in Tapestry by 1.2% during the second quarter. Fiera Capital Corp now owns 1,462,721 shares of the luxury accessories retailer’s stock valued at $62,590,000 after purchasing an additional 17,497 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TPR. Bank of America boosted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a report on Tuesday, October 29th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday. The Goldman Sachs Group upped their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Robert W. Baird upped their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Eight research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.78.

Tapestry Stock Performance

NYSE TPR opened at $56.30 on Friday. The company has a fifty day simple moving average of $47.70 and a 200 day simple moving average of $43.41. 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 company has a market cap of $13.12 billion, a P/E ratio of 16.27, a PEG ratio of 1.92 and a beta of 1.53.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is presently 40.46%.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value 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 $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

Tapestry Company 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.