Tapestry, Inc. (NYSE:TPR) Shares Purchased by Parallax Volatility Advisers L.P.

Parallax Volatility Advisers L.P. raised its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 48.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,420 shares of the luxury accessories retailer's stock after buying an additional 14,420 shares during the period. Parallax Volatility Advisers L.P.'s holdings in Tapestry were worth $2,087,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Waldron Private Wealth LLC purchased a new position in shares of Tapestry during the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Tapestry in the third quarter worth $47,000. Blue Trust Inc. boosted 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 worth $50,000 after purchasing an additional 556 shares in the last quarter. MUFG Securities EMEA plc grew its position in 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. Finally, Chilton Capital Management LLC bought a new stake in Tapestry during the 2nd quarter valued at about $53,000. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on TPR. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $51.00 to $66.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Citigroup boosted their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price objective on Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research note on Monday, November 18th. StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, UBS Group reduced their target price on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.78.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.18% of the company's stock.

Tapestry Trading Down 2.1 %

TPR traded down $1.32 on Friday, reaching $62.25. 9,556,831 shares of the company's stock were exchanged, compared to its average volume of 3,489,289. The company has a market cap of $14.51 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.23 and a beta of 1.60. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry, Inc. has a twelve month low of $32.27 and a twelve month high of $65.30. The company's 50 day moving average is $51.32 and its 200-day moving average is $44.88.

Tapestry Announces Dividend

The company 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 of this dividend is Friday, December 6th. Tapestry's dividend payout ratio (DPR) is 40.46%.

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.