Legacy Wealth Asset Management LLC Invests $342,000 in Tapestry, Inc. (NYSE:TPR)

Legacy Wealth Asset Management LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, HoldingsChannel reports. The fund acquired 5,234 shares of the luxury accessories retailer’s stock, valued at approximately $342,000.

Several other large investors have also recently made changes to their positions in the stock. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry in the third quarter worth $25,000. Brooklyn Investment Group purchased a new stake in Tapestry during the 3rd quarter valued at about $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tapestry in the second quarter valued at approximately $68,000. Abich Financial Wealth Management LLC acquired a new position in shares of Tapestry during the 2nd quarter valued at about $69,000. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Citigroup boosted 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. Evercore ISI raised their price target on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Robert W. Baird raised their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.76.

Tapestry Stock Up 2.7 %

TPR opened at $71.48 on Friday. The business has a 50-day moving average of $62.86 and a 200-day moving average of $49.86. 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 fifty-two week low of $35.23 and a fifty-two week high of $72.09. The company has a market capitalization of $16.66 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58.

Tapestry Announces Dividend

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