Princeton Global Asset Management LLC Has $5.32 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Princeton Global Asset Management LLC reduced its position in Tapestry, Inc. (NYSE:TPR) by 13.3% in the 4th quarter, HoldingsChannel reports. The firm owned 81,403 shares of the luxury accessories retailer’s stock after selling 12,533 shares during the period. Tapestry makes up about 1.0% of Princeton Global Asset Management LLC’s portfolio, making the stock its 28th largest position. Princeton Global Asset Management LLC’s holdings in Tapestry were worth $5,318,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the third quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Tapestry in the third quarter valued at approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tapestry in the second quarter valued at approximately $68,000. Deseret Mutual Benefit Administrators increased its stake in Tapestry by 68.2% in the third 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 last quarter. Finally, Transamerica Financial Advisors Inc. increased its stake in Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after acquiring an additional 1,591 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.

Tapestry Trading Down 3.8 %

NYSE:TPR opened at $72.99 on Monday. 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 firm has a 50-day moving average of $66.55 and a 200-day moving average of $52.21. The company has a market cap of $17.01 billion, a PE ratio of 21.10, a PEG ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a one year low of $35.23 and a one year high of $76.49.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders 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 1.92%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s payout ratio is presently 40.46%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TPR shares. Evercore ISI boosted their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. UBS Group boosted their target price on shares of Tapestry from $57.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company lifted their price target on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.56.

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.