Swedbank AB Grows Stock Position in Tapestry, Inc. (NYSE:TPR)

Swedbank AB grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 9.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,092,260 shares of the luxury accessories retailer’s stock after purchasing an additional 92,458 shares during the quarter. Swedbank AB’s holdings in Tapestry were worth $51,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. Lebenthal Global Advisors LLC raised its holdings in Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after acquiring an additional 215 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Tapestry by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after purchasing an additional 218 shares in the last quarter. Mather Group LLC. boosted its stake in Tapestry by 12.9% in the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 249 shares during the period. Legend Financial Advisors Inc. grew its holdings in Tapestry by 1.9% during the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after buying an additional 257 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after buying an additional 280 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 4.4 %

NYSE TPR opened at $58.92 on Monday. The stock has a 50-day moving average of $48.02 and a 200-day moving average of $43.61. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 1-year low of $30.20 and a 1-year high of $59.69. The firm has a market cap of $13.73 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.95 and a beta of 1.53.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Guggenheim raised their price objective on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Evercore ISI boosted their price target on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.78.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction 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 sale, the vice president now 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 SEC, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

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.