Tidal Investments LLC Buys 481 Shares of Tapestry, Inc. (NYSE:TPR)

Tidal Investments LLC lifted its position in Tapestry, Inc. (NYSE:TPR) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,401 shares of the luxury accessories retailer’s stock after acquiring an additional 481 shares during the quarter. Tidal Investments LLC’s holdings in Tapestry were worth $1,287,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings 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 purchasing an additional 2,087,586 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Tapestry in the 3rd quarter worth approximately $64,016,000. AQR Capital Management LLC grew its holdings in shares of Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after acquiring an additional 1,051,743 shares in the last quarter. Bank of Montreal Can increased its position in shares of Tapestry by 76.6% during the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after acquiring an additional 539,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Tapestry by 3.7% during 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 acquiring an additional 272,007 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of recent analyst reports. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. BMO Capital Markets increased their price target on shares of Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, November 18th. Evercore ISI lifted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their target price on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup lifted their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.47.

Tapestry Stock Performance

Shares of TPR opened at $62.08 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $65.30. The stock’s 50-day simple moving average is $54.28 and its 200 day simple moving average is $46.19.

Tapestry Announces Dividend

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

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.18% of the stock is owned by company insiders.

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.