Tapestry, Inc. (NYSE:TPR) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPRFree Report) by 59.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,839 shares of the luxury accessories retailer’s stock after buying an additional 15,242 shares during the period. Sanctuary Advisors LLC’s holdings in Tapestry were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TPR. Pacer Advisors Inc. increased its stake in Tapestry by 53.1% during the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after acquiring an additional 2,087,586 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Tapestry during the 3rd quarter worth $64,016,000. AQR Capital Management LLC increased its position in shares of Tapestry by 235.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Bank of Montreal Can raised its holdings in Tapestry by 76.6% in the 3rd quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after buying an additional 539,793 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Tapestry by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after buying an additional 272,007 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday. Guggenheim lifted their target price on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. The Goldman Sachs Group raised their price target on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Citigroup boosted their price objective on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Telsey Advisory Group raised their target price on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $59.47.

Check Out Our Latest Report on TPR

Tapestry Stock Performance

Shares of TPR stock opened at $62.08 on Thursday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $65.30. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company has a market cap of $14.47 billion, a P/E ratio of 17.94, a PEG ratio of 1.80 and a beta of 1.60. The firm has a fifty day moving average price of $54.28 and a 200 day moving average price of $46.19.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.26%. Tapestry’s payout ratio is currently 40.46%.

Tapestry Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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