Tapestry, Inc. (NYSE:TPR) Holdings Lowered by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,176 shares of the luxury accessories retailer’s stock after selling 942 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Tapestry were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Waldron Private Wealth LLC bought a new stake in shares of Tapestry in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in shares of Tapestry in the 3rd quarter valued at $47,000. UMB Bank n.a. increased its stake in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares during the period. Deseret Mutual Benefit Administrators boosted 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 purchasing an additional 605 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tapestry in the 2nd quarter worth $68,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of NYSE TPR opened at $73.56 on Friday. The firm has a market cap of $17.14 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.09 and a beta of 1.58. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $74.54. 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 business’s 50 day moving average is $64.47 and its 200-day moving average is $50.77.

Tapestry Announces Dividend

The business also recently declared 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 1.90%. The ex-dividend date was Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s 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 of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays upgraded Tapestry from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $57.00 to $87.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Telsey Advisory Group raised their price target on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Guggenheim boosted their target price on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Robert W. Baird upped their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.78.

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.