Kestra Investment Management LLC Increases Stake in Tapestry, Inc. (NYSE:TPR)

Kestra Investment Management LLC raised its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 81.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,794 shares of the luxury accessories retailer's stock after acquiring an additional 8,409 shares during the period. Kestra Investment Management LLC's holdings in Tapestry were worth $883,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TPR. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV increased its position in shares of Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock valued at $40,000 after purchasing an additional 328 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tapestry during the 3rd quarter valued at about $47,000. Blue Trust Inc. increased its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 556 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock valued at $52,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Up 3.5 %

TPR traded up $2.17 during trading on Monday, reaching $64.45. The company had a trading volume of 2,533,473 shares, compared to its average volume of 3,402,694. The stock has a market cap of $15.02 billion, a P/E ratio of 18.07, a PEG ratio of 2.16 and a beta of 1.53. The business has a 50 day simple moving average of $49.84 and a 200-day simple moving average of $44.31. Tapestry, Inc. has a 52 week low of $32.20 and a 52 week high of $64.56. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.17%. Tapestry's dividend payout ratio is presently 40.46%.

Insider Buying and Selling

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 sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research reports. Evercore ISI upped their price target on shares of Tapestry from $47.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Guggenheim increased their target price on shares of Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Barclays reissued an "equal weight" rating and issued a $57.00 target price on shares of Tapestry in a report on Wednesday, November 20th. Telsey Advisory Group increased their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Finally, Citigroup increased their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Eight 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.78.

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.