SG Americas Securities LLC Decreases Stock Holdings in Tapestry, Inc. (NYSE:TPR)

SG Americas Securities LLC lowered its position in shares of Tapestry, Inc. (NYSE:TPR) by 91.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,455 shares of the luxury accessories retailer’s stock after selling 211,410 shares during the quarter. SG Americas Securities LLC’s holdings in Tapestry were worth $1,271,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new stake in shares of Tapestry in the third quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in Tapestry in the 3rd quarter worth approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Tapestry during the second quarter valued at approximately $68,000. Deseret Mutual Benefit Administrators raised its holdings in shares of Tapestry by 68.2% during 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 in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted 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 worth $75,000 after acquiring an additional 1,591 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TPR. Evercore ISI upped their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group lifted their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, November 15th. UBS Group raised their target price on Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets upped their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.39.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred 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 owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.18% of the stock is owned by insiders.

Tapestry Stock Performance

Shares of TPR opened at $72.43 on Tuesday. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 2.07 and a beta of 1.58. The business’s fifty day simple moving average is $65.14 and its two-hundred day simple moving average is $51.33. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $75.78. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.93%. Tapestry’s payout ratio is 40.46%.

About 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.