Claro Advisors LLC Buys New Stake in Tapestry, Inc. (NYSE:TPR)

Claro Advisors LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,908 shares of the luxury accessories retailer's stock, valued at approximately $559,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Lebenthal Global Advisors LLC boosted its stake in shares of Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer's stock worth $367,000 after acquiring an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake 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 valued at $353,000 after acquiring an additional 218 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Tapestry by 12.9% in the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer's stock valued at $104,000 after purchasing an additional 249 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of Tapestry by 1.9% during the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer's stock worth $581,000 after acquiring an additional 257 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer's stock valued at $286,000 after purchasing an additional 280 shares during 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 firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares of the company's stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday. BMO Capital Markets increased their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a report on Monday. Telsey Advisory Group increased their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday. The Goldman Sachs Group raised their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a report on Friday. Finally, Citigroup increased their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and an average price target of $57.82.

Tapestry Price Performance

NYSE:TPR traded down $0.80 during trading hours on Tuesday, hitting $55.75. The company's stock had a trading volume of 1,669,201 shares, compared to its average volume of 3,329,579. Tapestry, Inc. has a 52-week low of $30.19 and a 52-week high of $58.49. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The business's 50-day moving average is $46.85 and its two-hundred day moving average is $43.12. The company has a market capitalization of $12.99 billion, a PE ratio of 16.07, a PEG ratio of 1.98 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. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, December 6th. Tapestry's dividend payout ratio is currently 40.46%.

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.