Tapestry, Inc. (NYSE:TPR) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,900 shares of the luxury accessories retailer's stock after buying an additional 29,987 shares during the quarter. Wellington Management Group LLP owned approximately 0.08% of Tapestry worth $8,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Waldron Private Wealth LLC acquired a new position in Tapestry during the 3rd quarter worth $25,000. Brooklyn Investment Group acquired a new position in Tapestry in the third quarter worth about $47,000. Blue Trust Inc. grew its stake in Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer's stock worth $50,000 after purchasing an additional 556 shares in the last quarter. MUFG Securities EMEA plc increased its holdings in Tapestry by 34.9% in the second 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 stake in Tapestry during the second quarter valued at approximately $53,000. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company'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 value of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.18% of the company's stock.

Tapestry Stock Performance

Tapestry stock traded up $1.00 during mid-day trading on Monday, hitting $64.20. 7,075,267 shares of the company's stock traded hands, compared to its average volume of 3,517,382. 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, Inc. has a one year low of $35.23 and a one year high of $65.30. The firm has a 50 day moving average price of $53.57 and a 200 day moving average price of $45.94. The company has a market cap of $14.96 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60.

Tapestry Dividend Announcement

The business 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. 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 currently 40.46%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Tapestry from $58.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Bank of America lifted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Robert W. Baird increased their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. TD Cowen downgraded shares of Tapestry from a "buy" rating to a "hold" rating and set a $52.00 price target on the stock. in a research report on Tuesday, October 29th. Finally, Guggenheim boosted their price objective on shares of Tapestry from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus target price of $59.47.

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.