Tapestry, Inc. (NYSE:TPR) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 86.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,762 shares of the luxury accessories retailer's stock after acquiring an additional 54,083 shares during the quarter. National Bank of Canada FI owned about 0.05% of Tapestry worth $5,485,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Tapestry during the third quarter worth $47,000. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 556 shares during the period. MUFG Securities EMEA plc boosted its holdings in Tapestry by 34.9% in the second 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 period. Finally, Chilton Capital Management LLC acquired a new position in Tapestry during the 2nd quarter worth $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of Tapestry stock traded up $1.71 during trading on Friday, reaching $63.20. The company's stock had a trading volume of 3,680,488 shares, compared to its average volume of 3,498,249. The business has a 50 day moving average price of $52.86 and a 200-day moving average price of $45.58. The company has a market capitalization of $14.73 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 12-month low of $35.06 and a 12-month high of $65.30.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. Tapestry's dividend payout ratio is presently 40.46%.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent research reports. Telsey Advisory Group upped their target price on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $51.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Evercore ISI boosted their target price on shares of Tapestry from $47.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. UBS Group cut their price target on Tapestry from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, August 16th. Finally, Barclays reaffirmed an "equal weight" rating and set a $57.00 price objective on shares of Tapestry in a research report on Wednesday, November 20th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.94.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business's stock in a transaction dated Friday, November 15th. The shares were 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. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.18% of the company's stock.

Tapestry 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.