Qsemble Capital Management LP Sells 328 Shares of Tapestry, Inc. (NYSE:TPR)

Qsemble Capital Management LP decreased its position in Tapestry, Inc. (NYSE:TPR) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,202 shares of the luxury accessories retailer’s stock after selling 328 shares during the quarter. Qsemble Capital Management LP’s holdings in Tapestry were worth $291,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Lebenthal Global Advisors LLC raised its position in shares of Tapestry by 2.8% in the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after purchasing an additional 215 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Tapestry by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after purchasing an additional 218 shares during the period. Mather Group LLC. raised its position in shares of Tapestry by 12.9% in the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 249 shares during the period. Summit Trail Advisors LLC raised its position in shares of Tapestry by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after purchasing an additional 251 shares during the period. Finally, Legend Financial Advisors Inc. raised its position in shares of Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after purchasing an additional 257 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. UBS Group dropped their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Guggenheim boosted their target price on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America boosted their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.78.

Tapestry Stock Down 0.2 %

Shares of NYSE:TPR opened at $60.92 on Thursday. Tapestry, Inc. has a 52 week low of $30.68 and a 52 week high of $61.59. 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 company’s fifty day moving average is $48.73 and its 200-day moving average is $43.90. The company has a market capitalization of $14.20 billion, a PE ratio of 17.61, a P/E/G ratio of 2.11 and a beta of 1.53.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Activity

In other 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 value of $514,221.12. Following the sale, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is owned by corporate insiders.

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.