Edgestream Partners L.P. Buys New Position in Tapestry, Inc. (NYSE:TPR)

Edgestream Partners L.P. acquired a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 92,806 shares of the luxury accessories retailer's stock, valued at approximately $4,360,000.

Several other institutional investors have also added to or reduced their stakes in TPR. Captrust Financial Advisors raised its position in shares of Tapestry by 97.9% in the third quarter. Captrust Financial Advisors now owns 22,505 shares of the luxury accessories retailer's stock valued at $1,057,000 after purchasing an additional 11,131 shares during the period. Public Sector Pension Investment Board grew its stake in Tapestry by 3.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 40,119 shares of the luxury accessories retailer's stock valued at $1,885,000 after buying an additional 1,200 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tapestry by 8.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer's stock valued at $66,459,000 after acquiring an additional 115,340 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Tapestry by 206.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,847 shares of the luxury accessories retailer's stock worth $228,000 after acquiring an additional 3,263 shares in the last quarter. Finally, Blueshift Asset Management LLC boosted its holdings in shares of Tapestry by 86.8% in the third quarter. Blueshift Asset Management LLC now owns 110,152 shares of the luxury accessories retailer's stock worth $5,175,000 after acquiring an additional 51,174 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPR. Telsey Advisory Group increased their price objective on Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Wells Fargo & Company increased their price target on shares of Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, November 15th. TD Cowen cut shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. Finally, Citigroup boosted their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.78.

Tapestry Trading Up 2.2 %

Shares of TPR stock traded up $1.36 on Friday, hitting $62.28. 2,410,632 shares of the company's stock traded hands, compared to its average volume of 4,772,015. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.16 and a beta of 1.53. The company's fifty day simple moving average is $49.84 and its 200 day simple moving average is $44.30. Tapestry, Inc. has a one year low of $31.37 and a one year high of $62.64.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, December 6th. Tapestry's dividend payout ratio (DPR) is presently 40.46%.

Insider Activity at Tapestry

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 transaction of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company's stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by company insiders.

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.