Landscape Capital Management L.L.C. Sells 78,428 Shares of Tapestry, Inc. (NYSE:TPR)

Landscape Capital Management L.L.C. lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 37.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,692 shares of the luxury accessories retailer's stock after selling 78,428 shares during the period. Tapestry comprises 0.6% of Landscape Capital Management L.L.C.'s investment portfolio, making the stock its 22nd biggest holding. Landscape Capital Management L.L.C. owned 0.06% of Tapestry worth $6,093,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the third quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV grew its position in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock worth $40,000 after purchasing an additional 328 shares in the last quarter. Blue Trust Inc. increased its stake in Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock valued at $50,000 after buying an additional 556 shares during the last quarter. MUFG Securities EMEA plc lifted 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 worth $52,000 after buying an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Tapestry in the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Tapestry

In related 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 value of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.18% of the stock is currently owned by insiders.

Tapestry Price Performance

Shares of NYSE TPR opened at $55.30 on Thursday. The stock's 50-day simple moving average is $47.41 and its two-hundred day simple moving average is $43.32. Tapestry, Inc. has a twelve month low of $30.20 and a twelve month high of $58.49. The firm has a market capitalization of $12.89 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.92 and a beta of 1.53. 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 disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry's dividend payout ratio (DPR) is currently 40.46%.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of recent analyst reports. Guggenheim lifted their price target on Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Barclays reiterated an "equal weight" rating and issued a $57.00 target price on shares of Tapestry in a research note on Wednesday. Raymond James reissued an "outperform" rating and set a $57.00 price objective (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, TD Cowen lowered Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price objective for the company. in a report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $57.78.

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.

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