Tapestry, Inc. (NYSE:TPR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in Tapestry, Inc. (NYSE:TPR) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,038 shares of the luxury accessories retailer’s stock after selling 1,277 shares during the period. Kentucky Retirement Systems’ holdings in Tapestry were worth $753,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in Tapestry during the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the period. Blue Trust Inc. lifted its stake in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 556 shares during the period. MUFG Securities EMEA plc lifted its stake in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares during the period. Finally, Chilton Capital Management LLC acquired a new stake in shares of Tapestry in the 2nd quarter worth approximately $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s 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 directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.18% of the company’s stock.

Tapestry Stock Down 1.6 %

Tapestry stock opened at $55.62 on Wednesday. The firm has a market cap of $12.96 billion, a PE ratio of 16.08, a P/E/G ratio of 1.98 and a beta of 1.53. 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’s 50 day moving average price is $47.14 and its two-hundred day moving average price is $43.23. Tapestry, Inc. has a twelve month low of $30.19 and a twelve month high of $58.49.

Tapestry Announces Dividend

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 2.52%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is 40.46%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday. 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 report on Friday, November 15th. UBS Group dropped their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $57.82.

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.