Quest Partners LLC Raises Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Quest Partners LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 243.5% in the third quarter, Holdings Channel reports. The institutional investor owned 43,563 shares of the luxury accessories retailer’s stock after acquiring an additional 30,882 shares during the quarter. Quest Partners LLC’s holdings in Tapestry were worth $2,047,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TPR. Waldron Private Wealth LLC purchased a new stake in Tapestry in the 3rd quarter worth $25,000. Massmutual Trust Co. FSB ADV grew its position in shares of Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares during the period. Blue Trust Inc. increased its stake in shares of Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares in the last quarter. MUFG Securities EMEA plc raised its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Tapestry in the 2nd quarter valued at about $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related 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 sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Tapestry Stock Down 1.2 %

Shares of NYSE TPR opened at $56.55 on Tuesday. Tapestry, Inc. has a 52-week low of $30.19 and a 52-week high of $58.49. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The business’s 50 day moving average is $46.85 and its two-hundred day moving average is $43.12. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.99 and a beta of 1.53.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Analyst Ratings Changes

A number of brokerages have commented on TPR. Telsey Advisory Group increased their target price on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Raymond James restated an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a report on Tuesday, October 29th. Bank of America boosted their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Evercore ISI raised their target price on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.82.

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.