Janus Henderson Group PLC Acquires 5,570 Shares of Tapestry, Inc. (NYSE:TPR)

Janus Henderson Group PLC raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,103 shares of the luxury accessories retailer’s stock after acquiring an additional 5,570 shares during the quarter. Janus Henderson Group PLC’s holdings in Tapestry were worth $5,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after purchasing an additional 272,007 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after buying an additional 58,135 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after buying an additional 165,406 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Tapestry by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after acquiring an additional 46,760 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the business’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 value of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. The trade was 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 link. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Raymond James reiterated an “outperform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. Barclays reissued an “equal weight” rating and issued a $57.00 price target on shares of Tapestry in a report on Wednesday, November 20th. UBS Group cut their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Telsey Advisory Group lifted their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets raised their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.78.

Tapestry Price Performance

Shares of NYSE TPR opened at $62.28 on Tuesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The stock 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. The firm’s 50 day simple moving average is $51.92 and its 200-day simple moving average is $45.21. Tapestry, Inc. has a 12 month low of $33.29 and a 12 month high of $65.30.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.25%. Tapestry’s dividend payout ratio (DPR) is currently 40.46%.

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.