Tapestry, Inc. (NYSE:TPR) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,180 shares of the luxury accessories retailer’s stock after purchasing an additional 493 shares during the period. Retirement Systems of Alabama’s holdings in Tapestry were worth $2,404,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Tapestry by 9.2% in the 2nd quarter. Raymond James & Associates now owns 463,654 shares of the luxury accessories retailer’s stock worth $19,840,000 after purchasing an additional 38,927 shares during the period. Fifth Third Bancorp raised its holdings in shares of Tapestry by 5.6% in the 2nd quarter. Fifth Third Bancorp now owns 15,986 shares of the luxury accessories retailer’s stock worth $684,000 after purchasing an additional 847 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Tapestry by 33.6% in the 2nd quarter. Raymond James Trust N.A. now owns 14,642 shares of the luxury accessories retailer’s stock valued at $627,000 after purchasing an additional 3,680 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Tapestry by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock worth $116,928,000 after purchasing an additional 46,760 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TPR. Telsey Advisory Group raised their price target on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Wells Fargo & Company raised 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. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research report on Tuesday, October 29th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group upgraded Tapestry from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $80.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.24.

Insider Activity at Tapestry

In related 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 transaction of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Up 2.4 %

NYSE TPR opened at $64.15 on Friday. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. 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, Inc. has a 12 month low of $35.23 and a 12 month high of $65.30. The company’s fifty day moving average price is $54.65 and its two-hundred day moving average price is $46.30.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given 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 dividend yield of 2.18%. Tapestry’s payout ratio is 40.46%.

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.