43,935 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 43,935 shares of the luxury accessories retailer's stock, valued at approximately $2,064,000.

Other hedge funds have also modified their holdings of the company. 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 worth $367,000 after purchasing an additional 215 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer's stock worth $353,000 after buying an additional 218 shares during the last quarter. Mather Group LLC. boosted its stake in 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 acquiring an additional 249 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Tapestry by 1.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer's stock worth $765,000 after acquiring an additional 251 shares during the period. Finally, Legend Financial Advisors Inc. raised its position 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 valued at $581,000 after acquiring an additional 257 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 value of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Tapestry from $58.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Guggenheim boosted their target price on Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. UBS Group cut their price target on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, Bank of America upped their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.78.

Tapestry Stock Up 0.3 %

TPR stock traded up $0.21 during midday trading on Tuesday, hitting $61.06. The company's stock had a trading volume of 10,127,923 shares, compared to its average volume of 3,402,347. The company's fifty day moving average price is $48.37 and its 200 day moving average price is $43.75. Tapestry, Inc. has a twelve month low of $30.20 and a twelve month high of $61.44. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The stock has a market capitalization of $14.23 billion, a P/E ratio of 17.64, a PEG ratio of 2.04 and a beta of 1.53.

Tapestry Announces Dividend

The business 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 $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. Tapestry's dividend payout ratio is 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.