UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 115,340 Shares of Tapestry, Inc. (NYSE:TPR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,414,618 shares of the luxury accessories retailer's stock after buying an additional 115,340 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.61% of Tapestry worth $66,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of Tapestry by 125.0% in the 1st quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer's stock valued at $2,524,000 after purchasing an additional 29,529 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Tapestry by 110.1% during the 1st quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer's stock valued at $768,000 after buying an additional 8,476 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Tapestry by 75.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,642 shares of the luxury accessories retailer's stock worth $448,000 after acquiring an additional 4,148 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Tapestry by 85.4% during the first quarter. EverSource Wealth Advisors LLC now owns 2,301 shares of the luxury accessories retailer's stock valued at $109,000 after purchasing an additional 1,060 shares during the period. Finally, GAMMA Investing LLC boosted its position in Tapestry by 78.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,815 shares of the luxury accessories retailer's stock valued at $249,000 after buying an additional 2,552 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred on Friday, November 15th. The shares were 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 approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.18% of the company's stock.

Tapestry Stock Performance

Shares of TPR stock traded down $0.27 on Tuesday, hitting $64.31. The company's stock had a trading volume of 10,636,702 shares, compared to its average volume of 4,956,079. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The company has a market capitalization of $14.99 billion, a PE ratio of 18.59, a PEG ratio of 2.24 and a beta of 1.60. The stock's 50 day moving average is $50.25 and its 200-day moving average is $44.46. Tapestry, Inc. has a fifty-two week low of $32.20 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. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry's dividend payout ratio is presently 40.46%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup upped their price target on Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, October 25th. BMO Capital Markets upped their price target on Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research note on Monday, November 18th. Raymond James reissued an "outperform" rating and set a $57.00 target price (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. UBS Group lowered their price objective on shares of Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. Finally, Bank of America upped their target price on shares of Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.78.

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.