The Manufacturers Life Insurance Company Grows Stock Holdings in Tapestry, Inc. (NYSE:TPR)

The Manufacturers Life Insurance Company grew its holdings in Tapestry, Inc. (NYSE:TPR) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,432 shares of the luxury accessories retailer’s stock after buying an additional 711 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Tapestry worth $8,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Cetera Investment Advisers increased its stake in Tapestry by 125.0% during the first quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock worth $2,524,000 after acquiring an additional 29,529 shares during the last quarter. Cetera Advisors LLC raised its holdings in Tapestry by 110.1% during the 1st quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock valued at $768,000 after buying an additional 8,476 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Tapestry by 75.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,642 shares of the luxury accessories retailer’s stock valued at $448,000 after buying an additional 4,148 shares during the period. EverSource Wealth Advisors LLC lifted its position in Tapestry by 85.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,301 shares of the luxury accessories retailer’s stock worth $109,000 after buying an additional 1,060 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Tapestry by 78.2% during the second quarter. GAMMA Investing LLC now owns 5,815 shares of the luxury accessories retailer’s stock worth $249,000 after buying an additional 2,552 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPR has been the subject of several analyst reports. Telsey Advisory Group raised their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. The Goldman Sachs Group boosted their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Daiwa America upgraded Tapestry to a “hold” rating in a research note on Monday, November 18th. UBS Group lowered their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $57.00 price target on shares of Tapestry in a research note on Wednesday, November 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.78.

Insiders Place Their Bets

In other 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 transaction of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Tapestry Trading Down 0.4 %

TPR opened at $64.31 on Wednesday. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.24 and a beta of 1.60. Tapestry, Inc. has a 12 month low of $32.20 and a 12 month high of $65.30. The stock has a fifty day moving average price of $50.25 and a 200-day moving average price of $44.46.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.18%. Tapestry’s dividend payout ratio (DPR) 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.