Tapestry, Inc. (NYSE:TPR) Shares Acquired by Algert Global LLC

Algert Global LLC increased its holdings in Tapestry, Inc. (NYSE:TPR) by 17.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,054 shares of the luxury accessories retailer’s stock after acquiring an additional 6,640 shares during the quarter. Algert Global LLC’s holdings in Tapestry were worth $2,117,000 at the end of the most recent quarter.

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

Tapestry Stock Performance

Shares of TPR opened at $60.92 on Thursday. Tapestry, Inc. has a 1 year low of $30.68 and a 1 year high of $61.59. The company’s 50 day simple moving average is $48.73 and its 200 day simple moving average is $43.90. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.11 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.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James reiterated an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Telsey Advisory Group lifted their price target on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. 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 report on Monday, November 18th. Bank of America lifted their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, UBS Group lowered their target price on Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.78.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the firm’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 sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

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.