Victory Capital Management Inc. Acquires 30,121 Shares of Tapestry, Inc. (NYSE:TPR)

Victory Capital Management Inc. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 7.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 433,825 shares of the luxury accessories retailer's stock after acquiring an additional 30,121 shares during the period. Victory Capital Management Inc. owned 0.19% of Tapestry worth $20,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the 3rd quarter worth about $25,000. Massmutual Trust Co. FSB ADV lifted its position in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer's stock valued at $40,000 after acquiring an additional 328 shares in the last quarter. 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 last quarter. MUFG Securities EMEA plc increased its holdings in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer's stock worth $52,000 after purchasing an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in Tapestry during the second quarter worth $53,000. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of Tapestry stock traded down $0.93 during trading hours on Tuesday, reaching $55.62. The company had a trading volume of 3,109,209 shares, compared to its average volume of 3,336,007. The firm has a market cap of $12.96 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. Tapestry, Inc. has a one year low of $30.19 and a one year high of $58.49. 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 business has a fifty day simple moving average of $46.85 and a 200 day simple moving average of $43.12.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 2.52%. Tapestry's dividend payout ratio is currently 40.46%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a "buy" rating in a research note on Friday. Bank of America boosted their target price on Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. UBS Group decreased their price target on Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. Finally, Raymond James reissued an "outperform" rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Six investment 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 presently has an average rating of "Moderate Buy" and an average price target of $57.82.

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.