Swedbank AB Has $51.31 Million Position in Tapestry, Inc. (NYSE:TPR)

Swedbank AB lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,092,260 shares of the luxury accessories retailer’s stock after buying an additional 92,458 shares during the period. Swedbank AB owned about 0.47% of Tapestry worth $51,314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC grew its stake in shares of Tapestry by 611.8% in the 1st quarter. Lazard Asset Management LLC now owns 63,617 shares of the luxury accessories retailer’s stock valued at $3,019,000 after buying an additional 54,679 shares in the last quarter. Tidal Investments LLC grew its position in Tapestry by 69.4% in the first quarter. Tidal Investments LLC now owns 40,785 shares of the luxury accessories retailer’s stock worth $1,936,000 after acquiring an additional 16,712 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of Tapestry by 5.2% during the 1st quarter. Hancock Whitney Corp now owns 14,327 shares of the luxury accessories retailer’s stock worth $680,000 after purchasing an additional 714 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Tapestry during the 1st quarter valued at $445,000. Finally, Cetera Investment Advisers lifted its stake in shares of Tapestry by 125.0% in the 1st quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock valued at $2,524,000 after purchasing an additional 29,529 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $58.92 on Monday. The firm has a 50 day moving average of $48.02 and a 200-day moving average of $43.61. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 1.95 and a beta of 1.53. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 52 week low of $30.20 and a 52 week high of $59.69.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.38%. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Transactions at Tapestry

In related 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 transaction of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TPR shares. UBS Group decreased their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. JPMorgan Chase & Co. raised 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 note on Monday, October 28th. Bank of America increased 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, Raymond James reaffirmed an “outperform” rating and issued a $57.00 price target (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.