Crossmark Global Holdings Inc. Sells 13,208 Shares of Tapestry, Inc. (NYSE:TPR)

Crossmark Global Holdings Inc. trimmed its position in Tapestry, Inc. (NYSE:TPR) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 354,710 shares of the luxury accessories retailer’s stock after selling 13,208 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Tapestry were worth $23,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new stake in shares of Tapestry during the 3rd quarter worth $25,000. Brooklyn Investment Group bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $47,000. UMB Bank n.a. grew its holdings in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares during the period. Deseret Mutual Benefit Administrators increased its position in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after buying an additional 605 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Tapestry during the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TPR shares. The Goldman Sachs Group boosted their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Citigroup lifted their price target on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America lifted their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.76.

Tapestry Stock Up 2.7 %

Shares of Tapestry stock opened at $71.48 on Tuesday. The company’s fifty day simple moving average is $63.25 and its two-hundred day simple moving average is $50.21. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $72.09. 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 $16.66 billion, a P/E ratio of 20.66, a PEG ratio of 2.03 and a beta of 1.58.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.96%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The stock was 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 of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

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.