Radnor Capital Management LLC decreased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 76.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the luxury accessories retailer's stock after selling 14,640 shares during the quarter. Radnor Capital Management LLC's holdings in Tapestry were worth $287,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TPR. Victory Capital Management Inc. boosted its holdings in shares of Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer's stock valued at $20,381,000 after acquiring an additional 30,121 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Tapestry during the third quarter worth $5,446,000. Valley Wealth Managers Inc. grew its position in Tapestry by 2.1% during the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer's stock valued at $19,971,000 after buying an additional 8,833 shares during the period. Westfield Capital Management Co. LP grew its position in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock valued at $79,822,000 after buying an additional 219,544 shares during the period. Finally, Claro Advisors LLC purchased a new position in Tapestry in the third quarter valued at $559,000. 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 firm'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 completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 1.18% of the company's stock.
Tapestry Price Performance
Shares of NYSE:TPR traded up $1.85 during midday trading on Friday, hitting $71.48. The company had a trading volume of 5,254,401 shares, compared to its average volume of 4,342,118. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $72.09. The stock has a market cap of $16.66 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58. 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 business's 50-day simple moving average is $62.47 and its 200-day simple moving average is $49.65.
Tapestry Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, December 6th. Tapestry's dividend payout ratio (DPR) is presently 40.46%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised their target price on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Robert W. Baird upped their target price on Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. Barclays raised shares of Tapestry from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $57.00 to $87.00 in a research note on Wednesday, January 8th. BMO Capital Markets upped their price objective on shares of Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research report on Monday, November 18th. Finally, StockNews.com lowered shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.76.
View Our Latest Research Report on TPR
About Tapestry
(
Free Report)
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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