1,766 Shares in Tapestry, Inc. (NYSE:TPR) Bought by True Wealth Design LLC

True Wealth Design LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent filing with the SEC. The firm bought 1,766 shares of the luxury accessories retailer’s stock, valued at approximately $83,000.

Several other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Tapestry in the first quarter valued at about $445,000. Cetera Investment Advisers grew its stake in shares of Tapestry by 125.0% in the first quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock worth $2,524,000 after acquiring an additional 29,529 shares during the last quarter. Cetera Advisors LLC increased its position in Tapestry by 110.1% during the first quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock worth $768,000 after acquiring an additional 8,476 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Tapestry by 75.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,642 shares of the luxury accessories retailer’s stock valued at $448,000 after purchasing an additional 4,148 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Tapestry by 85.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,301 shares of the luxury accessories retailer’s stock valued at $109,000 after purchasing an additional 1,060 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TPR. TD Cowen downgraded shares of 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. Citigroup boosted their price target on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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. Guggenheim boosted their price objective on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Evercore ISI raised their target price on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.78.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by company insiders.

Tapestry Trading Up 2.2 %

TPR stock opened at $62.28 on Friday. The business has a fifty day moving average price of $49.84 and a 200 day moving average price of $44.28. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry, Inc. has a fifty-two week low of $31.37 and a fifty-two week high of $62.64. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.16 and a beta of 1.53.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.25%. Tapestry’s dividend payout ratio (DPR) 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.