HighTower Advisors LLC Grows Stake in Tapestry, Inc. (NYSE:TPR)

HighTower Advisors LLC lifted its position in Tapestry, Inc. (NYSE:TPR) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 50,797 shares of the luxury accessories retailer’s stock after buying an additional 445 shares during the period. HighTower Advisors LLC’s holdings in Tapestry were worth $2,386,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TPR. Lebenthal Global Advisors LLC increased its stake in Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after acquiring an additional 215 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Tapestry by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after purchasing an additional 218 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Tapestry by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after purchasing an additional 251 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in Tapestry by 1.9% during the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after purchasing an additional 257 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after buying an additional 280 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 2.8 %

NYSE TPR opened at $63.20 on Friday. Tapestry, Inc. has a 1 year low of $35.06 and a 1 year high of $65.30. The stock has a market capitalization of $14.73 billion, a PE ratio of 18.27, a PEG ratio of 1.80 and a beta of 1.60. 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 business’s 50-day moving average is $53.20 and its 200 day moving average is $45.72.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.22%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPR. The Goldman Sachs Group raised their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, November 15th. UBS Group dropped their price target 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. JPMorgan Chase & Co. boosted their target price on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price target on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $58.94.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated 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 $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Tapestry Company 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.