Tapestry, Inc. (NYSE:TPR) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,180 shares of the luxury accessories retailer’s stock after purchasing an additional 493 shares during the quarter. Retirement Systems of Alabama’s holdings in Tapestry were worth $2,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redwood Investment Management LLC grew its stake in Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after buying an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC boosted its holdings in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after acquiring an additional 215 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after acquiring an additional 218 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Tapestry by 1.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after acquiring an additional 251 shares during the period. Finally, Legend Financial Advisors Inc. lifted its position in Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after purchasing an additional 257 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is currently owned by company insiders.

Tapestry Trading Up 2.4 %

Tapestry stock opened at $64.15 on Friday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $65.30. The firm’s 50 day moving average price is $54.65 and its two-hundred day moving average price is $46.30. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TPR. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Robert W. Baird raised their target price on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Telsey Advisory Group boosted their price target on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Bank of America raised their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays restated an “equal weight” rating and set a $57.00 price objective on shares of Tapestry in a research note on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $61.24.

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.