Legacy Wealth Asset Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,234 shares of the luxury accessories retailer's stock, valued at approximately $342,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Waldron Private Wealth LLC acquired a new stake in Tapestry during the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new position in shares of Tapestry in the 3rd quarter valued at about $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tapestry in the second quarter valued at approximately $68,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Tapestry during the 2nd quarter worth approximately $69,000. Finally, 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 purchasing an additional 605 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.
NYSE:TPR opened at $71.48 on Friday. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $72.09. The business has a 50 day moving average of $62.86 and a 200 day moving average of $49.86. 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 business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry's dividend payout ratio (DPR) is 40.46%.
In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.18% of the stock is currently owned by insiders.
TPR has been the subject of a number of analyst reports. Guggenheim lifted their price target on Tapestry from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Bank of America raised their price objective on Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 25th. BMO Capital Markets boosted 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. Citigroup lifted 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. Finally, StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.76.
Read Our Latest Stock Analysis on Tapestry
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.
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