Lebenthal Global Advisors LLC Sells 3,765 Shares of Tapestry, Inc. (NYSE:TPR)

Lebenthal Global Advisors LLC cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 48.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,048 shares of the luxury accessories retailer’s stock after selling 3,765 shares during the period. Lebenthal Global Advisors LLC’s holdings in Tapestry were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Waldron Private Wealth LLC bought a new stake in shares of Tapestry during the third quarter worth $25,000. Brooklyn Investment Group bought a new stake in Tapestry during the 3rd quarter worth about $47,000. UMB Bank n.a. increased its position in Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after acquiring an additional 496 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Tapestry during the second quarter worth approximately $68,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

NYSE TPR opened at $73.79 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.07 and a beta of 1.58. The business has a 50 day simple moving average of $65.50 and a 200 day simple moving average of $51.54. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $75.78.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.90%. Tapestry’s payout ratio is 40.46%.

Analysts Set New Price Targets

Several research analysts have issued reports on TPR shares. Telsey Advisory Group upped their price objective on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their price target on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. Robert W. Baird raised their target price on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $65.56.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the 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 in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is currently owned by insiders.

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.