Retireful LLC Invests $1.46 Million in Tapestry, Inc. (NYSE:TPR)

Retireful LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,305 shares of the luxury accessories retailer’s stock, valued at approximately $1,457,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Waldron Private Wealth LLC bought a new position in Tapestry during the third quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in Tapestry in the 3rd quarter worth about $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tapestry in the second quarter worth about $68,000. Abich Financial Wealth Management LLC purchased a new position in shares of Tapestry during the second quarter valued at approximately $69,000. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after buying an additional 605 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 2.9 %

TPR opened at $69.63 on Friday. 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 firm has a market cap of $16.23 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $69.84. The stock has a fifty day moving average price of $62.47 and a 200-day moving average price of $49.65.

Tapestry Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.01%. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’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 completion of the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. Raymond James reissued an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Wells Fargo & Company lifted their target price on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets upped their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Robert W. Baird boosted their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.76.

About Tapestry

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.