Truvestments Capital LLC Increases Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Truvestments Capital LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,345 shares of the luxury accessories retailer’s stock after buying an additional 1,581 shares during the quarter. Truvestments Capital LLC’s holdings in Tapestry were worth $1,097,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of 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 buying an additional 2,087,586 shares during the period. AQR Capital Management LLC increased its stake in Tapestry by 235.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after buying an additional 1,051,743 shares during the period. Coronation Fund Managers Ltd. raised its position in Tapestry by 265.1% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock worth $44,700,000 after buying an additional 758,539 shares during the last quarter. Swedbank AB boosted its holdings in shares of Tapestry by 206.5% in the second quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer’s stock valued at $42,782,000 after acquiring an additional 673,655 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Tapestry during the first quarter worth about $18,183,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TPR shares. Barclays reiterated an “equal weight” rating and issued a $57.00 price target on shares of Tapestry in a report on Wednesday, November 20th. 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. Telsey Advisory Group upped their price objective on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Bank of America lifted their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI boosted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report 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 company’s stock. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s 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 completion of the transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Performance

TPR opened at $59.31 on Monday. Tapestry, Inc. has a 1-year low of $30.20 and a 1-year high of $59.69. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 2.04 and a beta of 1.53. The business has a 50 day moving average price of $48.02 and a two-hundred day moving average price of $43.61. 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 will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.36%. Tapestry’s dividend payout ratio is currently 40.46%.

About Tapestry

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.