Tapestry, Inc. (NYSE:TPR) is Blueshift Asset Management LLC’s 7th Largest Position

Blueshift Asset Management LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 86.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,152 shares of the luxury accessories retailer’s stock after purchasing an additional 51,174 shares during the quarter. Tapestry accounts for 1.3% of Blueshift Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. Blueshift Asset Management LLC’s holdings in Tapestry were worth $5,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after purchasing an additional 58,135 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in 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 during the period. Bank of New York Mellon Corp increased its position in 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 worth $116,928,000 after purchasing an additional 46,760 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of 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 buying an additional 219,544 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 8,872 shares of the 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 sale, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is currently owned by insiders.

Tapestry Stock Performance

NYSE:TPR opened at $61.06 on Wednesday. Tapestry, Inc. has a fifty-two week low of $30.20 and a fifty-two week high of $61.44. The firm’s 50 day moving average is $48.37 and its two-hundred day moving average is $43.75. The company has a market cap of $14.23 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.11 and a beta of 1.53. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TPR. BMO Capital Markets increased their price objective on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Robert W. Baird increased their target price on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 15th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 29th. Wells Fargo & Company boosted 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. Finally, Bank of America raised their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

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.