Everence Capital Management Inc. Takes $362,000 Position in Tapestry, Inc. (NYSE:TPR)

Everence Capital Management Inc. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,540 shares of the luxury accessories retailer’s stock, valued at approximately $362,000.

Several other large investors have also made changes to their positions in the company. Waldron Private Wealth LLC purchased a new position in Tapestry in the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new stake in Tapestry during the 3rd quarter worth $47,000. Deseret Mutual Benefit Administrators lifted its holdings in Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after buying an additional 605 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tapestry during the second quarter valued at about $68,000. Finally, Transamerica Financial Advisors Inc. increased its position in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Performance

NYSE TPR opened at $67.63 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The firm has a 50-day moving average of $59.42 and a 200-day moving average of $48.30. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $68.42. The stock has a market cap of $15.76 billion, a PE ratio of 19.55, a P/E/G ratio of 1.80 and a beta of 1.58.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were paid a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.07%. Tapestry’s payout ratio is currently 40.46%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TPR shares. Raymond James reissued an “outperform” rating and set a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Telsey Advisory Group boosted their price objective on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Citigroup lifted their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI raised their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a report on Tuesday, October 29th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.24.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was 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. This represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

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.