Tapestry, Inc. (NYSE:TPR) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 20.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 179,900 shares of the luxury accessories retailer’s stock after acquiring an additional 29,987 shares during the quarter. Wellington Management Group LLP’s holdings in Tapestry were worth $8,452,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Redwood Investment Management LLC lifted its holdings in shares of Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after purchasing an additional 204 shares during the period. Lebenthal Global Advisors LLC lifted its stake in Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after acquiring an additional 215 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after acquiring an additional 218 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Tapestry by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after acquiring an additional 251 shares during the period. Finally, Legend Financial Advisors Inc. increased its stake in shares of Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 2.8 %

Shares of Tapestry stock opened at $63.20 on Monday. 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, Inc. has a twelve month low of $35.06 and a twelve month high of $65.30. The firm has a market capitalization of $14.73 billion, a PE ratio of 18.27, a P/E/G ratio of 1.80 and a beta of 1.60. The firm’s 50-day moving average price is $53.20 and its 200 day moving average price is $45.78.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Analyst Ratings Changes

TPR has been the topic of several recent research reports. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Barclays restated an “equal weight” rating and issued a $57.00 target price on shares of Tapestry in a research note on Wednesday, November 20th. Wells Fargo & Company lifted their price target on Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup upped their price objective on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America lifted their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $58.94.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry 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 sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is owned by company 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.