Sanctuary Advisors LLC Buys 15,242 Shares of Tapestry, Inc. (NYSE:TPR)

Sanctuary Advisors LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 59.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,839 shares of the luxury accessories retailer's stock after acquiring an additional 15,242 shares during the quarter. Sanctuary Advisors LLC's holdings in Tapestry were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock worth $357,732,000 after purchasing an additional 272,007 shares during the period. Pacer Advisors Inc. increased its stake in Tapestry by 1.0% in the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock valued at $285,580,000 after purchasing an additional 58,135 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock valued at $262,156,000 after purchasing an additional 80,681 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tapestry by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer's stock worth $151,965,000 after purchasing an additional 165,406 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Tapestry by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer's stock valued at $116,928,000 after buying an additional 46,760 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business'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 sale, the vice president now owns 35,003 shares of the company's stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TPR has been the topic of several recent research reports. BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a report on Monday, November 18th. Citigroup lifted their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Telsey Advisory Group upped their price objective on shares of Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. Bank of America lifted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on shares of Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $61.24.

Tapestry Stock Performance

NYSE TPR traded up $0.58 during trading hours on Thursday, reaching $62.66. 4,933,022 shares of the company were exchanged, compared to its average volume of 3,535,469. The stock has a market capitalization of $14.60 billion, a P/E ratio of 18.11, a P/E/G 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 1 year low of $35.23 and a 1 year high of $65.30. The business's 50 day simple moving average is $54.65 and its 200-day simple moving average is $46.30.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 2.23%. 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.