Exchange Traded Concepts LLC Decreases Holdings in Tapestry, Inc. (NYSE:TPR)

Exchange Traded Concepts LLC reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,656 shares of the luxury accessories retailer's stock after selling 5,024 shares during the quarter. Exchange Traded Concepts LLC's holdings in Tapestry were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Waldron Private Wealth LLC bought a new stake in Tapestry during the 3rd quarter worth $25,000. Brooklyn Investment Group bought a new stake in Tapestry during the 3rd quarter worth $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tapestry during the 2nd quarter worth $68,000. Deseret Mutual Benefit Administrators boosted its position in 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 during the period. 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 worth $75,000 after buying an additional 1,591 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the company'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 sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TPR has been the topic of several recent research reports. Guggenheim lifted their target price on shares of Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Telsey Advisory Group raised their target price on Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Barclays raised Tapestry from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $57.00 to $87.00 in a research report on Wednesday, January 8th. TD Cowen cut shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price objective for the company. in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $66.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.56.

Tapestry Stock Up 1.9 %

Shares of TPR traded up $1.38 during trading hours on Thursday, reaching $75.77. The stock had a trading volume of 833,296 shares, compared to its average volume of 3,991,164. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $76.02. The firm has a 50-day simple moving average of $65.88 and a 200 day simple moving average of $51.70. 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 company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.07 and a beta of 1.58.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.85%. Tapestry's dividend payout ratio is presently 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.