Y Intercept Hong Kong Ltd Has $490,000 Stake in Tapestry, Inc. (NYSE:TPR)

Y Intercept Hong Kong Ltd cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 52.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,438 shares of the luxury accessories retailer’s stock after selling 11,437 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Tapestry were worth $490,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tapestry by 25.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,256 shares of the luxury accessories retailer’s stock valued at $952,000 after purchasing an additional 4,498 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Tapestry by 17.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,436 shares of the luxury accessories retailer’s stock valued at $661,000 after acquiring an additional 2,284 shares during the period. Blue Trust Inc. lifted its position in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Tapestry by 9.2% during the second quarter. Raymond James & Associates now owns 463,654 shares of the luxury accessories retailer’s stock worth $19,840,000 after acquiring an additional 38,927 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Tapestry by 12.0% in the second quarter. Nisa Investment Advisors LLC now owns 54,870 shares of the luxury accessories retailer’s stock valued at $2,348,000 after purchasing an additional 5,888 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. Telsey Advisory Group boosted their target price on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. 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. Citigroup increased their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Raymond James reiterated 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. Finally, Guggenheim increased their price target on Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.94.

Tapestry Trading Up 2.8 %

Shares of TPR stock opened at $63.20 on Monday. Tapestry, Inc. has a twelve month low of $35.06 and a twelve month high of $65.30. The stock’s fifty day simple moving average is $53.20 and its 200 day simple moving average is $45.78. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $14.73 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.80 and a beta of 1.60.

Tapestry Dividend Announcement

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is currently owned by insiders.

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.