Tapestry, Inc. (NYSE:TPR) Stock Position Lowered by Pitcairn Co.

Pitcairn Co. decreased its position in Tapestry, Inc. (NYSE:TPR) by 4.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,795 shares of the luxury accessories retailer’s stock after selling 243 shares during the period. Pitcairn Co.’s holdings in Tapestry were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Lebenthal Global Advisors LLC boosted its position in shares of Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after purchasing an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in 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 buying an additional 218 shares in the last quarter. Mather Group LLC. grew its position in Tapestry by 12.9% in the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after buying an additional 249 shares during the last quarter. Legend Financial Advisors Inc. increased its holdings in shares of Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after buying an additional 257 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Tapestry by 4.8% during the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after acquiring an additional 280 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,028,773.88. This 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 link. 1.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of recent analyst reports. Telsey Advisory Group boosted their target price on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James reiterated an “outperform” rating and issued a $57.00 target price (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Barclays restated an “equal weight” rating and set a $57.00 price target on shares of Tapestry in a report on Wednesday, November 20th. Finally, StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry Stock Down 0.2 %

Shares of Tapestry stock opened at $60.92 on Thursday. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 2.11 and a beta of 1.53. The stock has a 50-day simple moving average of $48.73 and a 200-day simple moving average of $43.90. Tapestry, Inc. has a 52-week low of $30.68 and a 52-week high of $61.59. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry Dividend Announcement

The firm also recently announced 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. This represents a $1.40 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is 40.46%.

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.