Meritage Portfolio Management Has $7.88 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Meritage Portfolio Management reduced its holdings in Tapestry, Inc. (NYSE:TPR) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 120,676 shares of the luxury accessories retailer’s stock after selling 2,287 shares during the quarter. Meritage Portfolio Management owned approximately 0.05% of Tapestry worth $7,884,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TPR. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry during the third quarter worth $25,000. Brooklyn Investment Group acquired a new stake in Tapestry during the 3rd quarter worth about $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tapestry in the 2nd quarter worth about $68,000. Deseret Mutual Benefit Administrators raised its position 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 worth $70,000 after acquiring an additional 605 shares in 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 period. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction 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 sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $72.92 on Wednesday. Tapestry, Inc. has a one year low of $35.23 and a one year high of $76.49. The company has a market cap of $16.99 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.07 and a beta of 1.58. The firm has a 50-day moving average of $67.05 and a 200-day moving average of $52.66. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were given a dividend of $0.35 per share. The ex-dividend date was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Tapestry’s dividend payout ratio is currently 40.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TPR shares. BMO Capital Markets lifted their target price on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Guggenheim lifted their price objective on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Barclays raised shares of Tapestry from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $57.00 to $87.00 in a research note on Wednesday, January 8th. Telsey Advisory Group lifted their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.28.

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.