3,881 Shares in Tapestry, Inc. (NYSE:TPR) Bought by Verity & Verity LLC

Verity & Verity LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,881 shares of the luxury accessories retailer's stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TPR. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock worth $357,732,000 after acquiring an additional 272,007 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock worth $285,580,000 after acquiring an additional 58,135 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tapestry by 1.5% in the 3rd 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 in the last quarter. Dimensional Fund Advisors LP raised its position in Tapestry by 4.9% in 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 during the period. Finally, Westfield Capital Management Co. LP lifted its stake in Tapestry by 14.8% in 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 purchasing an additional 219,544 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 2.7 %

Shares of NYSE TPR traded up $1.85 on Friday, reaching $71.48. 5,254,401 shares of the company's stock traded hands, compared to its average volume of 3,654,031. The business's 50 day simple moving average is $62.86 and its two-hundred day simple moving average is $49.92. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $72.09. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, December 6th. Tapestry's dividend payout ratio (DPR) is 40.46%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen downgraded Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price objective on the stock. in a report on Tuesday, October 29th. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Citigroup increased their price objective on Tapestry from $49.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research report on Friday, November 15th. Finally, Telsey Advisory Group upped 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. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price of $64.76.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction 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 directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.18% of the company's stock.

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.