Vestcor Inc Has $57,000 Stock Position in Tapestry, Inc. (NYSE:TPR)

Vestcor Inc decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 93.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,207 shares of the luxury accessories retailer's stock after selling 16,036 shares during the quarter. Vestcor Inc's holdings in Tapestry were worth $57,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Waldron Private Wealth LLC bought a new position in Tapestry in the 3rd quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Tapestry during the 3rd quarter worth about $47,000. Blue Trust Inc. boosted its stake in Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 556 shares during the period. MUFG Securities EMEA plc grew its holdings in Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock valued at $52,000 after buying an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Tapestry during the second quarter worth approximately $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Daiwa America raised shares of Tapestry to a "hold" rating in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $51.00 to $66.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Robert W. Baird boosted their price target on Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 15th. Finally, BMO Capital Markets raised their price objective on Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $58.94.

Tapestry Price Performance

Shares of TPR traded up $1.71 during trading hours on Friday, hitting $63.20. The stock had a trading volume of 3,724,470 shares, compared to its average volume of 3,502,529. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.80 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. The company's fifty day moving average is $53.20 and its two-hundred day moving average is $45.75. Tapestry, Inc. has a 52 week low of $35.06 and a 52 week high of $65.30.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.22%. Tapestry's dividend payout ratio is 40.46%.

Tapestry 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.