Orion Portfolio Solutions LLC Grows Position in Tapestry, Inc. (NYSE:TPR)

Orion Portfolio Solutions LLC raised its holdings in Tapestry, Inc. (NYSE:TPR) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,914 shares of the luxury accessories retailer’s stock after purchasing an additional 2,255 shares during the period. Orion Portfolio Solutions LLC’s holdings in Tapestry were worth $2,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 3.7% in the 3rd 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 buying an additional 272,007 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after acquiring an additional 58,135 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Tapestry by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 valued at $116,928,000 after purchasing an additional 46,760 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after purchasing an additional 219,544 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. 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. UBS Group lowered their target price on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Citigroup raised their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Guggenheim upped their price target on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, BMO Capital Markets lifted their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.78.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Tapestry stock opened at $61.39 on Wednesday. The firm has a fifty day simple moving average of $52.22 and a two-hundred day simple moving average of $45.35. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a twelve month low of $33.29 and a twelve month high of $65.30. The company has a market capitalization of $14.31 billion, a PE ratio of 17.74, a P/E/G ratio of 2.16 and a beta of 1.60.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio 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.