Tapestry, Inc. (NYSE:TPR) Shares Acquired by Truvestments Capital LLC

Truvestments Capital LLC grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 7.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,345 shares of the luxury accessories retailer’s stock after acquiring an additional 1,581 shares during the quarter. Truvestments Capital LLC’s holdings in Tapestry were worth $1,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TPR. Waldron Private Wealth LLC acquired a new stake in Tapestry during the 3rd quarter worth about $25,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. lifted its position in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares in the last quarter. MUFG Securities EMEA plc lifted its position in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Tapestry during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $59.31 on Monday. The stock has a market capitalization of $13.82 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.04 and a beta of 1.53. The business has a 50-day moving average of $48.02 and a two-hundred day moving average of $43.61. Tapestry, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $59.69. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

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 given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Tapestry’s payout ratio is currently 40.46%.

Analysts Set New Price Targets

TPR has been the subject of a number of research analyst reports. Citigroup increased their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Bank of America lifted their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI increased their price target 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. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.78.

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.