Friedenthal Financial Purchases New Position in Tapestry, Inc. (NYSE:TPR)

Friedenthal Financial acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 12,273 shares of the luxury accessories retailer's stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wedmont Private Capital bought a new stake in Tapestry during the fourth quarter worth about $253,000. Reinhart Partners LLC. bought a new stake in shares of Tapestry during the 4th quarter worth approximately $5,969,000. Czech National Bank boosted its holdings in shares of Tapestry by 7.7% in the 4th quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer's stock valued at $3,301,000 after buying an additional 3,629 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Tapestry by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer's stock valued at $4,694,000 after buying an additional 898 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in Tapestry during the fourth quarter worth $362,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of NYSE:TPR traded down $0.37 during trading on Monday, reaching $66.78. 3,972,491 shares of the company traded hands, compared to its average volume of 4,025,355. 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, Inc. has a 52 week low of $35.23 and a 52 week high of $69.09. The firm has a market capitalization of $15.56 billion, a PE ratio of 19.30, a PEG ratio of 1.80 and a beta of 1.58. The company's 50 day moving average is $61.39 and its two-hundred day moving average is $49.21.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.10%. Tapestry's payout ratio is 40.46%.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm's stock in a transaction 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 sale, the vice president now owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on TPR shares. Robert W. Baird lifted 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. Jefferies Financial Group upgraded Tapestry from a "hold" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $80.00 in a report on Thursday, December 19th. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Tapestry from $66.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Finally, Guggenheim increased their price target on Tapestry from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $64.76.

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.