Insight 2811 Inc. lessened its holdings in Tapestry Inc (NYSE:TPR) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,401 shares of the luxury accessories retailer’s stock after selling 8,392 shares during the quarter. Insight 2811 Inc.’s holdings in Tapestry were worth $415,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in TPR. Bourgeon Capital Management LLC bought a new stake in Tapestry in the 3rd quarter valued at $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Tapestry in the 4th quarter valued at $59,000. Pinnacle Financial Partners Inc. acquired a new stake in shares of Tapestry in the 4th quarter valued at $63,000. Rational Advisors LLC boosted its stake in shares of Tapestry by 280.3% in the 3rd quarter. Rational Advisors LLC now owns 2,468 shares of the luxury accessories retailer’s stock valued at $64,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Financial Architects Inc boosted its stake in shares of Tapestry by 2,465.0% in the 3rd quarter. Financial Architects Inc now owns 2,565 shares of the luxury accessories retailer’s stock valued at $67,000 after purchasing an additional 2,465 shares in the last quarter. 88.72% of the stock is currently owned by hedge funds and other institutional investors.
NYSE TPR traded up $0.77 on Thursday, hitting $28.81. 3,208,957 shares of the company were exchanged, compared to its average volume of 3,836,091. The firm has a 50 day moving average of $27.77 and a two-hundred day moving average of $25.94. The company has a market cap of $7.76 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.31 and a beta of 1.04. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 1.05. Tapestry Inc has a 1-year low of $18.54 and a 1-year high of $36.55.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 6th will be given a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 4.69%. Tapestry’s dividend payout ratio (DPR) is 52.53%.
In related news, insider Sarah Dunn sold 32,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $26.78, for a total transaction of $856,960.00. Following the transaction, the insider now owns 62,131 shares in the company, valued at approximately $1,663,868.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
Several brokerages have recently commented on TPR. Guggenheim restated a “buy” rating and issued a $35.00 target price on shares of Tapestry in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on shares of Tapestry from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Edward Jones upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. KeyCorp boosted their target price on shares of Tapestry from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of Tapestry in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $28.62.
Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.
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