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TCW Group Inc. Has $26.03 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Tapestry logo with Retail/Wholesale background

TCW Group Inc. grew its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 554,104 shares of the luxury accessories retailer's stock after acquiring an additional 82,649 shares during the quarter. TCW Group Inc. owned 0.24% of Tapestry worth $26,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its holdings in Tapestry by 5.7% during the 2nd quarter. QRG Capital Management Inc. now owns 12,617 shares of the luxury accessories retailer's stock valued at $540,000 after purchasing an additional 678 shares during the last quarter. Czech National Bank lifted its stake in Tapestry by 8.5% in the 2nd quarter. Czech National Bank now owns 43,785 shares of the luxury accessories retailer's stock valued at $1,874,000 after purchasing an additional 3,433 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tapestry by 25.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,256 shares of the luxury accessories retailer's stock worth $952,000 after purchasing an additional 4,498 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Tapestry by 17.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,436 shares of the luxury accessories retailer's stock worth $661,000 after purchasing an additional 2,284 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Tapestry by 206.5% in the 2nd quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer's stock valued at $42,782,000 after purchasing an additional 673,655 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

TPR has been the topic of several research analyst reports. Evercore ISI increased 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. BMO Capital Markets boosted their target price on shares of Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a research note on Monday, November 18th. The Goldman Sachs Group boosted their price objective on Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their price target on Tapestry from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, UBS Group cut their price target on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $57.78.

Read Our Latest Analysis on Tapestry

Tapestry Stock Up 1.5 %

NYSE TPR traded up $0.91 during trading hours on Wednesday, hitting $62.30. The company had a trading volume of 4,208,843 shares, compared to its average volume of 3,504,967. The firm's 50 day moving average is $52.22 and its 200 day moving average is $45.35. The company has a market capitalization of $14.52 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.16 and a beta of 1.60. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry, Inc. has a fifty-two week low of $33.29 and a fifty-two week high of $65.30.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.25%. Tapestry's dividend payout ratio is presently 40.46%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the business'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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.18% of the company's stock.

About Tapestry

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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