Tapestry, Inc. (NYSE:TPR) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC lessened its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 84.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the luxury accessories retailer's stock after selling 12,267 shares during the period. TD Private Client Wealth LLC's holdings in Tapestry were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Tapestry by 7.5% in 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 acquiring an additional 30,121 shares during the period. Fiera Capital Corp increased its stake in Tapestry by 1.2% in the second quarter. Fiera Capital Corp now owns 1,462,721 shares of the luxury accessories retailer's stock valued at $62,590,000 after purchasing an additional 17,497 shares during the period. Assenagon Asset Management S.A. acquired a new position in Tapestry in the third quarter valued at $5,446,000. Valley Wealth Managers Inc. raised its holdings in shares of Tapestry by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer's stock valued at $19,971,000 after buying an additional 8,833 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock worth $79,822,000 after buying an additional 219,544 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the company's stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.18% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Telsey Advisory Group boosted their price target on Tapestry from $58.00 to $67.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. BMO Capital Markets boosted their target price on Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a report on Monday, November 18th. The Goldman Sachs Group increased their price target on Tapestry from $58.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Evercore ISI lifted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of Tapestry from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.47.

Tapestry Price Performance

Shares of TPR traded up $1.00 on Monday, reaching $64.20. The stock had a trading volume of 7,075,267 shares, compared to its average volume of 3,517,382. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $65.30. The firm has a market capitalization of $14.96 billion, a PE ratio of 18.36, a PEG ratio of 1.80 and a beta of 1.60. The firm has a 50-day moving average of $53.20 and a 200 day moving average of $45.78. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, December 6th. Tapestry's dividend payout ratio (DPR) is 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.