Raymond James Trust N.A. Sells 6,661 Shares of Tapestry, Inc. (NYSE:TPR)

Raymond James Trust N.A. decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 45.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,981 shares of the luxury accessories retailer’s stock after selling 6,661 shares during the quarter. Raymond James Trust N.A.’s holdings in Tapestry were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TPR. Charles Schwab Investment Management Inc. lifted its position in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after acquiring an additional 58,135 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tapestry by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Tapestry by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after purchasing an additional 46,760 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 0.3 %

NYSE:TPR opened at $61.06 on Wednesday. The business’s 50-day simple moving average is $48.37 and its 200-day simple moving average is $43.75. Tapestry, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $61.44. 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 stock has a market capitalization of $14.23 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.04 and a beta of 1.53.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is 40.46%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TPR shares. UBS Group lowered their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Robert W. Baird upped their target price on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Insider Transactions at Tapestry

In other 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 completion of the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by insiders.

Tapestry 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.