Tapestry, Inc. (NYSE:TPR) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,572 shares of the luxury accessories retailer’s stock after acquiring an additional 2,294 shares during the quarter. Park Avenue Securities LLC’s holdings in Tapestry were worth $625,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TPR. Redwood Investment Management LLC raised its position in shares of Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after purchasing an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC increased 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 purchasing an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings 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 buying an additional 218 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Tapestry by 1.6% during the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after buying an additional 251 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Tapestry by 4.8% during the third 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 during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 1.0 %

TPR opened at $73.31 on Thursday. The company has a fifty day moving average of $64.16 and a two-hundred day moving average of $50.61. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 2.03 and a beta of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $74.54. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.91%. Tapestry’s dividend payout ratio is presently 40.46%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TPR. UBS Group upped their target price on Tapestry from $57.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. Telsey Advisory Group lifted their target price on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $64.78.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is owned by company insiders.

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.