Avior Wealth Management LLC Boosts Holdings in Tapestry, Inc. (NYSE:TPR)

Avior Wealth Management LLC increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 34.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,993 shares of the luxury accessories retailer’s stock after purchasing an additional 4,069 shares during the period. Avior Wealth Management LLC’s holdings in Tapestry were worth $1,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TPR. Redwood Investment Management LLC increased its stake in Tapestry by 0.4% in the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after purchasing an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC grew its position in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after acquiring an additional 215 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after acquiring an additional 218 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of Tapestry by 1.6% during the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after acquiring an additional 251 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after acquiring an additional 280 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TPR shares. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Tuesday, October 29th. Wells Fargo & Company raised their target price on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI raised their target price on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Robert W. Baird raised their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price target on Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average target price of $64.78.

Tapestry Price Performance

Tapestry stock opened at $74.63 on Friday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $75.78. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The business has a fifty day moving average of $64.82 and a two-hundred day moving average of $51.00. The company has a market cap of $17.39 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Tapestry Dividend Announcement

The company 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 1.88%. The ex-dividend date was Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

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.