Dumont & Blake Investment Advisors LLC Sells 4,930 Shares of Tapestry, Inc. (NYSE:TPR)

Dumont & Blake Investment Advisors LLC cut its position in shares of Tapestry, Inc. (NYSE:TPR) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,132 shares of the luxury accessories retailer’s stock after selling 4,930 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Tapestry were worth $2,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the 3rd quarter valued at about $25,000. Brooklyn Investment Group bought a new stake in shares of Tapestry in the 3rd quarter valued at approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tapestry in the 2nd quarter valued at approximately $68,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its stake in shares of Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after purchasing an additional 1,591 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $75.80 on Friday. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $76.49. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The firm has a 50 day moving average of $66.27 and a 200 day moving average of $51.87.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is owned by insiders.

Analysts Set New Price Targets

TPR has been the subject of a number of analyst reports. 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. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Tuesday, October 29th. Raymond James reissued an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Guggenheim raised their price objective on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Evercore ISI raised their price target on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.56.

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.