91,368 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Reinhart Partners LLC.

Reinhart Partners LLC. purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,368 shares of the luxury accessories retailer's stock, valued at approximately $5,969,000.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Tapestry by 7.5% during 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 buying an additional 30,121 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tapestry in the third quarter valued at $5,446,000. Valley Wealth Managers Inc. boosted its stake in Tapestry by 2.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer's stock valued at $19,971,000 after acquiring an additional 8,833 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock worth $79,822,000 after acquiring an additional 219,544 shares in the last quarter. Finally, Claro Advisors LLC bought a new stake in shares of Tapestry in the 3rd quarter worth about $559,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TPR shares. BMO Capital Markets increased their price target 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. UBS Group lifted their target price on Tapestry from $57.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday. TD Cowen downgraded Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price target for the company. in a report on Tuesday, October 29th. Jefferies Financial Group upgraded Tapestry from a "hold" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $80.00 in a research note on Thursday, December 19th. Finally, Barclays upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $57.00 to $87.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.76.

Tapestry Stock Performance

Shares of TPR traded down $0.37 during mid-day trading on Monday, reaching $66.78. 3,972,491 shares of the company's stock traded hands, compared to its average volume of 4,025,355. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The business's 50-day moving average price is $61.39 and its 200-day moving average price is $49.21. The stock has a market capitalization of $15.56 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $69.09.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, December 6th. Tapestry's payout ratio is currently 40.46%.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were 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 directly owns 35,003 shares of the company's stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.18% of the stock is currently owned by insiders.

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.