Swedbank AB Raises Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Swedbank AB lifted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092,260 shares of the luxury accessories retailer's stock after buying an additional 92,458 shares during the quarter. Swedbank AB owned 0.47% of Tapestry worth $51,314,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry in the third quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its position in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock worth $40,000 after purchasing an additional 328 shares in the last quarter. Blue Trust Inc. boosted its position in Tapestry by 111.9% during 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 in the last quarter. MUFG Securities EMEA plc boosted its position in 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 in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Tapestry during the second quarter worth $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Up 3.3 %

Tapestry stock traded up $1.94 during trading on Monday, hitting $60.86. The company's stock had a trading volume of 6,835,895 shares, compared to its average volume of 3,361,621. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 2.04 and a beta of 1.53. The stock's fifty day moving average is $48.37 and its 200 day moving average is $43.75. Tapestry, Inc. has a 1-year low of $30.20 and a 1-year high of $61.28. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.30%. Tapestry's dividend payout ratio is presently 40.46%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company's stock in a transaction dated Friday, November 15th. The stock was 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 $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 SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TPR shares. StockNews.com downgraded Tapestry from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. Robert W. Baird boosted their target price on Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on Tapestry from $51.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Bank of America upped their price objective on Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, UBS Group reduced their price objective on 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.78.

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.