Exchange Traded Concepts LLC Sells 5,024 Shares of Tapestry, Inc. (NYSE:TPR)

Exchange Traded Concepts LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 28.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,656 shares of the luxury accessories retailer’s stock after selling 5,024 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Tapestry were worth $827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Redwood Investment Management LLC raised its holdings in shares of Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after purchasing an additional 204 shares in the last quarter. Lebenthal Global Advisors LLC raised its holdings in shares of Tapestry by 2.8% in 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 raised its holdings in shares of Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after purchasing an additional 218 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Tapestry by 1.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after purchasing an additional 251 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

TPR opened at $74.43 on Thursday. 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 firm has a fifty day moving average price of $65.88 and a 200 day moving average price of $51.70. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $75.78. The stock has a market cap of $17.35 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.07 and a beta of 1.58.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPR. Daiwa America raised shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Telsey Advisory Group boosted their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, Citigroup boosted 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. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $65.56.

Insiders Place Their Bets

In other Tapestry 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 transaction of $514,221.12. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.18% of the stock is currently owned by company insiders.

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.