Tapestry, Inc. (NYSE:TPR) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 110.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,489 shares of the luxury accessories retailer's stock after purchasing an additional 19,695 shares during the quarter. iA Global Asset Management Inc.'s holdings in Tapestry were worth $1,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 3.7% in 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 period. Pacer Advisors Inc. raised its holdings in shares of Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock worth $285,580,000 after acquiring an additional 58,135 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Tapestry by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock worth $151,965,000 after acquiring an additional 165,406 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Tapestry by 1.7% during the 2nd 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 acquiring an additional 46,760 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock worth $79,822,000 after acquiring an additional 219,544 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of Tapestry stock traded up $0.03 during trading hours on Monday, hitting $62.28. 5,786,887 shares of the company were exchanged, compared to its average volume of 3,498,986. Tapestry, Inc. has a 1 year low of $33.29 and a 1 year high of $65.30. 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 business has a 50-day moving average of $51.61 and a 200-day moving average of $45.06. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 2.16 and a beta of 1.60.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, December 6th. Tapestry's payout ratio is 40.46%.

Wall Street Analysts Forecast Growth

TPR has been the topic of several analyst reports. Barclays reiterated an "equal weight" rating and set a $57.00 price target on shares of Tapestry in a report on Wednesday, November 20th. BMO Capital Markets boosted their price objective on shares of Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a report on Monday, November 18th. Guggenheim boosted their price objective on shares of Tapestry from $60.00 to $70.00 and gave the company a "buy" rating in a report on Friday, November 15th. Evercore ISI boosted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, Wells Fargo & Company lifted their target price on Tapestry from $65.00 to $75.00 and gave the company an "overweight" 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.78.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.18% of the stock is currently owned by company insiders.

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.