Tapestry, Inc. (NYSE:TPR) Stock Position Decreased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,599 shares of the luxury accessories retailer's stock after selling 25,257 shares during the quarter. Manning & Napier Advisors LLC's holdings in Tapestry were worth $2,391,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TPR. Marshall Wace LLP bought a new stake in shares of Tapestry during the 2nd quarter worth $311,000. Creative Planning boosted its stake in shares of Tapestry by 1.0% during the 2nd quarter. Creative Planning now owns 48,518 shares of the luxury accessories retailer's stock worth $2,076,000 after acquiring an additional 457 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Tapestry by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,118 shares of the luxury accessories retailer's stock valued at $519,000 after purchasing an additional 884 shares in the last quarter. Quarry LP lifted its holdings in shares of Tapestry by 110.5% in the second quarter. Quarry LP now owns 1,998 shares of the luxury accessories retailer's stock valued at $85,000 after purchasing an additional 1,049 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Tapestry in the second quarter valued at $203,000. 90.77% of the stock is owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a report on Friday, November 15th. StockNews.com lowered Tapestry from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Bank of America increased their target price on Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday, October 25th. UBS Group increased their target price on Tapestry from $57.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on 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 thirteen have given a buy rating to the company's stock. According to MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $65.56.

Tapestry Trading Up 1.9 %

Shares of NYSE:TPR opened at $75.80 on Friday. The company has a market cap of $17.66 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.07 and a beta of 1.58. The stock's 50-day moving average is $66.27 and its 200-day moving average is $51.87. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $76.49. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry's dividend payout ratio is currently 40.46%.

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.

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