Tapestry, Inc. (NYSE:TPR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Tapestry, Inc. (NYSE:TPR) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 433,825 shares of the luxury accessories retailer’s stock after acquiring an additional 30,121 shares during the quarter. Victory Capital Management Inc.’s holdings in Tapestry were worth $20,381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TPR. Pacer Advisors Inc. increased its stake in shares of Tapestry by 53.1% in the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock valued at $257,623,000 after purchasing an additional 2,087,586 shares during the period. Clearbridge Investments LLC acquired a new position in shares of Tapestry during the first quarter valued at approximately $54,055,000. AQR Capital Management LLC increased its stake in shares of Tapestry by 235.9% during 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 acquiring an additional 1,051,743 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of Tapestry by 265.1% during the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock valued at $44,700,000 after acquiring an additional 758,539 shares during the period. Finally, Swedbank AB increased its stake in shares of Tapestry by 206.5% during the second quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer’s stock valued at $42,782,000 after acquiring an additional 673,655 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 29th. Bank of America raised their target price on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Raymond James restated an “outperform” rating and set a $57.00 target price (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Finally, Evercore ISI raised their target price on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.82.

Tapestry Trading Down 1.2 %

Tapestry stock opened at $56.55 on Tuesday. Tapestry, Inc. has a 52 week low of $30.19 and a 52 week high of $58.49. 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 has a market capitalization of $13.18 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.99 and a beta of 1.53. The company has a 50 day moving average price of $46.85 and a 200 day moving average price of $43.12.

Tapestry Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. Tapestry’s payout ratio is 40.46%.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’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 transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.18% of the company’s stock.

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.