HighTower Advisors LLC Has $2.39 Million Position in Tapestry, Inc. (NYSE:TPR)

HighTower Advisors LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,797 shares of the luxury accessories retailer’s stock after buying an additional 445 shares during the period. HighTower Advisors LLC’s holdings in Tapestry were worth $2,386,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Holocene Advisors LP bought a new position in shares of Tapestry in the third quarter valued at approximately $5,953,000. Kestra Investment Management LLC raised its position in Tapestry by 81.0% in the 3rd quarter. Kestra Investment Management LLC now owns 18,794 shares of the luxury accessories retailer’s stock valued at $883,000 after buying an additional 8,409 shares during the last quarter. Erste Asset Management GmbH bought a new position in Tapestry during the 3rd quarter valued at $64,016,000. True Wealth Design LLC purchased a new position in Tapestry during the 3rd quarter worth $83,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Tapestry in the 3rd quarter worth $4,360,000. 90.77% of the stock is owned by institutional investors.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their target price on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. upped their target price on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Robert W. Baird lifted their price target on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Citigroup upped their price objective on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.94.

Tapestry Stock Up 2.8 %

TPR opened at $63.20 on Friday. Tapestry, Inc. has a 12 month low of $35.06 and a 12 month high of $65.30. The company has a market cap of $14.73 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. 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 has a 50 day moving average of $53.20 and a 200 day moving average of $45.72.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

About Tapestry

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.