Pacer Advisors Inc. Increases Stake in Tapestry, Inc. (NYSE:TPR)

Pacer Advisors Inc. lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,078,760 shares of the luxury accessories retailer's stock after buying an additional 58,135 shares during the period. Pacer Advisors Inc. owned about 2.61% of Tapestry worth $285,580,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new position in Tapestry during the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock valued at $40,000 after acquiring an additional 328 shares during the last quarter. Blue Trust Inc. raised its holdings in Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock worth $50,000 after purchasing an additional 556 shares during the period. MUFG Securities EMEA plc raised its position in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock worth $52,000 after purchasing an additional 317 shares during the period. Finally, Chilton Capital Management LLC acquired a new stake in shares of Tapestry during the second quarter worth $53,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

NYSE TPR traded up $1.00 during trading on Thursday, reaching $56.30. The company's stock had a trading volume of 1,614,979 shares, compared to its average volume of 3,330,387. The firm has a fifty day moving average of $47.70 and a 200 day moving average of $43.41. Tapestry, Inc. has a one year low of $30.20 and a one year high of $58.49. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The stock has a market capitalization of $13.12 billion, a PE ratio of 16.27, a P/E/G ratio of 1.92 and a beta of 1.53.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. Tapestry's dividend payout ratio is presently 40.46%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Cowen cut Tapestry from a "buy" rating to a "hold" rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. Wells Fargo & Company lifted their price objective on shares of Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Raymond James reissued an "outperform" rating and set a $57.00 target price (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Guggenheim upped their price target on shares of Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.78.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.18% of the company's stock.

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.