Retireful LLC Invests $1.46 Million in Tapestry, Inc. (NYSE:TPR)

Retireful LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,305 shares of the luxury accessories retailer's stock, valued at approximately $1,457,000.

Other hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC acquired a new position in shares of Tapestry in the 3rd quarter valued at $25,000. Brooklyn Investment Group acquired a new position in Tapestry in the third quarter valued at $47,000. Deseret Mutual Benefit Administrators increased its stake in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer's stock valued at $70,000 after purchasing an additional 605 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Tapestry in the second quarter valued at about $68,000. Finally, Transamerica Financial Advisors Inc. boosted its stake in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer's stock worth $75,000 after buying an additional 1,591 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a research report on Monday, November 18th. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Daiwa America raised Tapestry to a "hold" rating in a report on Monday, November 18th. Telsey Advisory Group boosted their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an "outperform" rating in a research note on Friday, November 15th. Finally, Guggenheim upped their price objective on shares of Tapestry from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $64.76.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.18% of the company's stock.

Tapestry Price Performance

TPR traded up $1.85 during trading on Friday, reaching $71.48. 5,254,401 shares of the stock were exchanged, compared to its average volume of 4,342,118. 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 company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $72.09. The business's 50 day moving average price is $62.47 and its two-hundred day moving average price is $49.65.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend 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%.

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.