Burney Co. Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Burney Co. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,804 shares of the luxury accessories retailer's stock, valued at approximately $1,294,000.

A number of other large investors also recently bought and sold shares of TPR. Waldron Private Wealth LLC acquired a new stake in Tapestry during the third quarter worth about $25,000. Brooklyn Investment Group bought a new position in shares of Tapestry during the third quarter valued at approximately $47,000. 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 purchasing an additional 605 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $68,000. Finally, Transamerica Financial Advisors Inc. boosted its position in Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock valued at $75,000 after purchasing an additional 1,591 shares during the period. Institutional investors own 90.77% of the company's stock.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPR. UBS Group increased their price objective on shares of Tapestry from $57.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. TD Cowen lowered shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price target on the stock. in a research note on Tuesday, October 29th. StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Jefferies Financial Group upgraded Tapestry from a "hold" rating to a "buy" rating and raised their target price for the company from $50.00 to $80.00 in a research report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price target on Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.76.

Tapestry Stock Performance

Shares of NYSE:TPR traded up $1.85 during trading on Friday, hitting $71.48. 5,254,401 shares of the stock were exchanged, compared to its average volume of 4,342,118. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $72.09. The company's fifty day simple moving average is $62.47 and its 200-day simple moving average is $49.65. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93.

Tapestry Announces Dividend

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

About Tapestry

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.