Kingsview Wealth Management LLC Grows Stake in Tapestry, Inc. (NYSE:TPR)

Kingsview Wealth Management LLC boosted its stake in Tapestry, Inc. (NYSE:TPR) by 25.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,661 shares of the luxury accessories retailer’s stock after buying an additional 1,346 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Tapestry were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TPR. Waldron Private Wealth LLC purchased a new position in shares of Tapestry in the third quarter valued at approximately $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 worth $40,000 after purchasing an additional 328 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares in the last quarter. MUFG Securities EMEA plc raised its position in shares of Tapestry by 34.9% in the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after buying an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Tapestry in the second quarter worth about $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America lifted their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, October 25th. UBS Group lowered their price target on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry Price Performance

TPR stock opened at $62.28 on Friday. The business has a 50 day simple moving average of $49.45 and a 200-day simple moving average of $44.14. The company has a market capitalization of $14.51 billion, a P/E ratio of 18.00, a PEG ratio of 2.11 and a beta of 1.53. Tapestry, Inc. has a twelve month low of $31.37 and a twelve month high of $62.64. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.25%. Tapestry’s dividend payout ratio is presently 40.46%.

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.