Holocene Advisors LP Invests $5.95 Million in Tapestry, Inc. (NYSE:TPR)

Holocene Advisors LP purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 126,712 shares of the luxury accessories retailer's stock, valued at approximately $5,953,000. Holocene Advisors LP owned about 0.05% of Tapestry as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Charles Schwab Investment Management Inc. raised its position in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock valued at $357,732,000 after acquiring an additional 272,007 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock valued at $285,580,000 after purchasing an additional 58,135 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tapestry by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock valued at $151,965,000 after buying an additional 165,406 shares during the period. Bank of New York Mellon Corp boosted its holdings in Tapestry by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer's stock worth $116,928,000 after buying an additional 46,760 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock worth $79,822,000 after buying an additional 219,544 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 0.4 %

Shares of NYSE:TPR traded down $0.26 during trading on Thursday, hitting $63.57. 4,003,062 shares of the company were exchanged, compared to its average volume of 3,463,469. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.23 and a beta of 1.60. 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, Inc. has a fifty-two week low of $32.27 and a fifty-two week high of $65.30. The firm has a fifty day moving average price of $50.99 and a two-hundred day moving average price of $44.75.

Tapestry Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.20%. Tapestry's dividend payout ratio is presently 40.46%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPR. BMO Capital Markets increased their price target 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. Evercore ISI increased their target price on shares of Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Guggenheim boosted their price target on shares of Tapestry from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, November 15th. Wells Fargo & Company raised their price objective on Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their target price on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and an average price target of $57.78.

Insider Activity

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