Transamerica Financial Advisors Inc. Raises Holdings in Tapestry, Inc. (NYSE:TPR)

Transamerica Financial Advisors Inc. lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 159,100.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,592 shares of the luxury accessories retailer’s stock after buying an additional 1,591 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Tapestry were worth $75,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Tapestry during the third quarter worth about $47,000. Blue Trust Inc. boosted its stake in shares of Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the period. Finally, MUFG Securities EMEA plc boosted its stake in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Citigroup raised their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays restated an “equal weight” rating and issued a $57.00 price objective on shares of Tapestry in a research report on Wednesday, November 20th. Guggenheim raised 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. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $57.78.

Tapestry Trading Down 0.2 %

Shares of TPR opened at $60.92 on Thursday. 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 firm has a 50 day simple moving average of $48.73 and a 200-day simple moving average of $43.90. Tapestry, Inc. has a 1-year low of $30.68 and a 1-year high of $61.59. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.11 and a beta of 1.53.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. 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 2.30%. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry 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 directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is owned by corporate insiders.

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.