Retireful LLC Buys New Position in Tapestry, Inc. (NYSE:TPR)

Retireful LLC purchased a new position in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,305 shares of the luxury accessories retailer’s stock, valued at approximately $1,457,000.

A number of other large investors have also modified their holdings of the business. Waldron Private Wealth LLC acquired a new stake in Tapestry in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group purchased a new position in shares of Tapestry in the third quarter worth $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tapestry during the second quarter worth $68,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Tapestry during the second quarter valued at $69,000. Finally, Deseret Mutual Benefit Administrators increased its position in shares of Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after acquiring an additional 605 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $69.63 on Friday. The stock has a 50 day moving average of $62.47 and a two-hundred day moving average of $49.65. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $69.84. The firm has a market cap of $16.23 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is 40.46%.

Insider Activity at Tapestry

In other 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 transaction of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on TPR. BMO Capital Markets lifted their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Robert W. Baird lifted their target price on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. Finally, Barclays upgraded shares of Tapestry from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $57.00 to $87.00 in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.76.

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.