Glenmede Trust Co. NA Purchases 16,353 Shares of Tapestry, Inc. (NYSE:TPR)

Glenmede Trust Co. NA lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 55.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,674 shares of the luxury accessories retailer's stock after purchasing an additional 16,353 shares during the period. Glenmede Trust Co. NA's holdings in Tapestry were worth $2,146,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TPR. Freedom Investment Management Inc. increased its holdings in Tapestry by 2.0% in the 3rd quarter. Freedom Investment Management Inc. now owns 36,412 shares of the luxury accessories retailer's stock worth $1,711,000 after acquiring an additional 717 shares in the last quarter. Townsquare Capital LLC increased its stake in shares of Tapestry by 15.8% in the third quarter. Townsquare Capital LLC now owns 11,162 shares of the luxury accessories retailer's stock worth $524,000 after purchasing an additional 1,526 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock worth $75,000 after purchasing an additional 1,591 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry during the 3rd quarter valued at $47,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Tapestry by 0.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 182,432 shares of the luxury accessories retailer's stock valued at $8,571,000 after buying an additional 711 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of the business's 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TPR. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Tapestry from $51.00 to $66.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Bank of America upped their price target on Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. UBS Group reduced their price objective on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. Finally, Telsey Advisory Group upped their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $57.78.

Tapestry Trading Up 3.7 %

Shares of NYSE TPR traded up $2.30 during trading hours on Monday, hitting $64.58. 8,104,495 shares of the company traded hands, compared to its average volume of 3,427,100. Tapestry, Inc. has a 12 month low of $32.20 and a 12 month high of $64.60. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.16 and a beta of 1.53. 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's 50 day moving average price is $49.84 and its 200 day moving average price is $44.31.

Tapestry Announces Dividend

The firm 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.17%. Tapestry's dividend payout ratio is 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.