Assenagon Asset Management S.A. Has $6.87 Million Position in Tapestry, Inc. (NYSE:TPR)

Assenagon Asset Management S.A. trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,187 shares of the luxury accessories retailer's stock after selling 10,731 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Tapestry were worth $6,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Waldron Private Wealth LLC acquired a new stake in Tapestry in the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new stake in Tapestry in the third quarter worth about $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tapestry in the 2nd quarter valued at about $68,000. Abich Financial Wealth Management LLC acquired a new position in Tapestry during the 2nd quarter valued at about $69,000. Finally, Deseret Mutual Benefit Administrators raised 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 buying an additional 605 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. TD Cowen lowered shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 29th. UBS Group lifted their price target on Tapestry from $57.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Jefferies Financial Group upgraded Tapestry from a "hold" rating to a "buy" rating and upped their price objective for the company from $50.00 to $80.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $66.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Finally, BMO Capital Markets raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus target price of $64.76.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Stock Up 2.7 %

Shares of TPR stock traded up $1.85 on Monday, hitting $71.48. 5,254,401 shares of the stock were exchanged, compared to its average volume of 3,654,031. The firm has a market capitalization of $16.66 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $72.09. The business has a 50-day moving average of $62.86 and a 200 day moving average of $49.99. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.35 dividend. 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%.

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.