iA Global Asset Management Inc. Has $1.76 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

iA Global Asset Management Inc. increased its stake in Tapestry, Inc. (NYSE:TPR) by 110.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,489 shares of the luxury accessories retailer’s stock after purchasing an additional 19,695 shares during the period. iA Global Asset Management Inc.’s holdings in Tapestry were worth $1,761,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry in the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new position in Tapestry during the third quarter valued at approximately $47,000. Blue Trust Inc. raised its position in Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares in the last quarter. MUFG Securities EMEA plc lifted its stake in Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of Tapestry in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the 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 of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Down 1.5 %

Shares of Tapestry stock opened at $62.25 on Monday. The stock’s 50-day moving average is $51.61 and its 200 day moving average is $45.06. Tapestry, Inc. has a one year low of $32.27 and a one year high of $65.30. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.21 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.

Tapestry Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.25%. Tapestry’s dividend payout ratio is currently 40.46%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TPR shares. BMO Capital Markets raised their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Robert W. Baird raised their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James restated an “outperform” rating and issued a $57.00 target price (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.78.

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.