Legacy Wealth Asset Management LLC Acquires Shares of 5,234 Tapestry, Inc. (NYSE:TPR)

Legacy Wealth Asset Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,234 shares of the luxury accessories retailer's stock, valued at approximately $342,000.

Other large investors also recently bought and sold shares of the company. Waldron Private Wealth LLC purchased a new position in Tapestry in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new position in shares of Tapestry in the 3rd quarter valued at $47,000. Deseret Mutual Benefit Administrators increased its position in shares of Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock worth $70,000 after purchasing an additional 605 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Tapestry in the 2nd quarter valued at about $68,000. Finally, Transamerica Financial Advisors Inc. raised its holdings in Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after buying an additional 1,591 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.18% of the company's stock.

Tapestry Stock Up 2.7 %

TPR stock traded up $1.85 during trading on Friday, hitting $71.48. 5,254,401 shares of the company's stock were exchanged, compared to its average volume of 3,654,031. The business has a 50-day moving average price of $62.86 and a two-hundred day moving average price of $49.92. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $72.09.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.96%. Tapestry's dividend payout ratio is presently 40.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a research report on Monday, November 18th. The Goldman Sachs Group boosted their target price on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, November 15th. UBS Group upped their price target on Tapestry from $57.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Barclays upgraded Tapestry from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $57.00 to $87.00 in a report on Wednesday, January 8th. Finally, 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 report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.