Quantinno Capital Management LP Purchases 633 Shares of Tapestry, Inc. (NYSE:TPR)

Quantinno Capital Management LP boosted its position in Tapestry, Inc. (NYSE:TPR) by 1.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 66,271 shares of the luxury accessories retailer’s stock after purchasing an additional 633 shares during the period. Quantinno Capital Management LP’s holdings in Tapestry were worth $3,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the third quarter valued at approximately $25,000. Brooklyn Investment Group bought a new position in Tapestry in the 3rd quarter valued at $47,000. Blue Trust Inc. increased its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares during the last quarter. MUFG Securities EMEA plc raised its stake in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the period. Finally, Chilton Capital Management LLC purchased a new position in shares of Tapestry in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the company’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 completion of the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Tapestry Stock Up 0.0 %

Shares of NYSE TPR opened at $62.28 on Tuesday. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The business has a 50-day moving average of $51.92 and a 200-day moving average of $45.21. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.16 and a beta of 1.60. Tapestry, Inc. has a 12 month low of $33.29 and a 12 month high of $65.30.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is 40.46%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TPR shares. Guggenheim boosted their target price on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Bank of America increased their price objective on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. BMO Capital Markets boosted their target price on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Finally, Robert W. Baird boosted their price objective on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

Tapestry Company 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.