Tapestry, Inc. (NYSE:TPR) Holdings Raised by IRON Financial LLC

IRON Financial LLC increased its stake in Tapestry, Inc. (NYSE:TPR) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,882 shares of the luxury accessories retailer’s stock after purchasing an additional 208 shares during the quarter. IRON Financial LLC’s holdings in Tapestry were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPR. Public Sector Pension Investment Board raised its stake in Tapestry by 13.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,919 shares of the luxury accessories retailer’s stock valued at $1,665,000 after purchasing an additional 4,528 shares during the period. Marshall Wace LLP purchased a new position in shares of Tapestry during the second quarter valued at $311,000. Magnolia Capital Advisors LLC acquired a new position in Tapestry during the second quarter valued at $295,000. Creative Planning lifted its stake in Tapestry by 1.0% in the 2nd quarter. Creative Planning now owns 48,518 shares of the luxury accessories retailer’s stock worth $2,076,000 after acquiring an additional 457 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Tapestry by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,118 shares of the luxury accessories retailer’s stock worth $519,000 after acquiring an additional 884 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. Guggenheim increased their price target on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Citigroup upped their price objective on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted 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. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company increased their price objective on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.39.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the 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 of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.18% of the stock is owned by insiders.

Tapestry Stock Performance

Shares of TPR opened at $72.43 on Tuesday. The company has a market capitalization of $16.88 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. 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 one year low of $35.23 and a one year high of $75.78. The company’s fifty day moving average price is $65.14 and its 200 day moving average price is $51.33.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were paid a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.93%. Tapestry’s 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.