Pacer Advisors Inc. Buys 58,135 Shares of Tapestry, Inc. (NYSE:TPR)

Pacer Advisors Inc. lifted its position in Tapestry, Inc. (NYSE:TPR) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,078,760 shares of the luxury accessories retailer’s stock after acquiring an additional 58,135 shares during the quarter. Pacer Advisors Inc. owned approximately 2.61% of Tapestry worth $285,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. Lebenthal Global Advisors LLC grew its position in Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Tapestry by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after acquiring an additional 218 shares in the last quarter. Mather Group LLC. increased its position in shares of Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after acquiring an additional 249 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in Tapestry by 1.9% during the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after acquiring an additional 257 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday. Telsey Advisory Group increased their price target on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Daiwa America raised shares of Tapestry to a “hold” rating in a research report on Monday. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, October 29th. Finally, Evercore ISI raised their price target on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry Trading Down 0.6 %

Shares of Tapestry stock opened at $55.30 on Thursday. The company’s 50-day moving average price is $47.41 and its 200-day moving average price is $43.32. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 12-month low of $30.20 and a 12-month high of $58.49. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.92 and a beta of 1.53.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

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.