Secure Asset Management LLC Has $2.52 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Secure Asset Management LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,543 shares of the luxury accessories retailer’s stock after purchasing an additional 1,651 shares during the quarter. Secure Asset Management LLC’s holdings in Tapestry were worth $2,518,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in shares of Tapestry by 34.1% in the 4th quarter. Avior Wealth Management LLC now owns 15,993 shares of the luxury accessories retailer’s stock valued at $1,045,000 after buying an additional 4,069 shares during the period. Janney Montgomery Scott LLC acquired a new position in Tapestry in the fourth quarter valued at about $333,000. Atomi Financial Group Inc. grew its stake in Tapestry by 18.5% in the fourth quarter. Atomi Financial Group Inc. now owns 5,716 shares of the luxury accessories retailer’s stock valued at $373,000 after acquiring an additional 892 shares during the period. Capricorn Fund Managers Ltd bought a new stake in shares of Tapestry in the fourth quarter worth about $3,905,000. Finally, UMB Bank n.a. raised its position in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after purchasing an additional 496 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, 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 can be accessed through the SEC website. 1.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on TPR shares. JPMorgan Chase & Co. boosted their price objective on Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Jefferies Financial Group upgraded shares of Tapestry from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $80.00 in a report on Thursday, December 19th. Citigroup raised their price objective on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BMO Capital Markets upped their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Finally, Robert W. Baird lifted their price target on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.78.

Tapestry Price Performance

Shares of TPR opened at $73.56 on Friday. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company’s fifty day simple moving average is $64.47 and its 200 day simple moving average is $50.77. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $74.54. The company has a market cap of $17.14 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.09 and a beta of 1.58.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued 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 1.90%. Tapestry’s payout ratio is 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.