Atomi Financial Group Inc. Has $373,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Atomi Financial Group Inc. increased its holdings in Tapestry, Inc. (NYSE:TPRFree Report) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,716 shares of the luxury accessories retailer’s stock after purchasing an additional 892 shares during the period. Atomi Financial Group Inc.’s holdings in Tapestry were worth $373,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Tapestry by 7.5% in the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after purchasing an additional 30,121 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Tapestry in the third quarter worth about $5,446,000. Valley Wealth Managers Inc. raised its position in Tapestry by 2.1% in the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after purchasing an additional 8,833 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after purchasing an additional 219,544 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Tapestry during the fourth quarter worth approximately $3,437,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TPR. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Evercore ISI raised their price objective on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group raised their price objective on shares of Tapestry from $57.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company raised their price objective on shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.78.

Check Out Our Latest Research Report on Tapestry

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were 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 $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of TPR stock opened at $74.63 on Friday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $75.78. The stock has a market cap of $17.39 billion, a PE ratio of 21.57, a PEG ratio of 2.07 and a beta of 1.58. 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 firm’s 50 day moving average price is $64.82 and its two-hundred day moving average price is $51.06.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. Tapestry’s payout ratio is presently 40.46%.

About Tapestry

(Free Report)

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.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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