Banque Cantonale Vaudoise Makes New Investment in Tapestry, Inc. (NYSE:TPR)

Banque Cantonale Vaudoise acquired a new position in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,347 shares of the luxury accessories retailer’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lebenthal Global Advisors LLC increased its stake in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after purchasing an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Tapestry by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after acquiring an additional 218 shares during the period. Mather Group LLC. increased its position in Tapestry by 12.9% in the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after buying an additional 249 shares in the last quarter. Legend Financial Advisors Inc. boosted its position in shares of Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after purchasing an additional 257 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after acquiring an additional 280 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the topic of several research reports. The Goldman Sachs Group lifted their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Evercore ISI boosted their target price on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Telsey Advisory Group boosted their target price on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Raymond James reiterated an “outperform” rating and issued a $57.00 price target (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. Finally, Citigroup boosted their price objective on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.78.

Tapestry Stock Up 4.4 %

Shares of NYSE TPR opened at $58.92 on Friday. The firm’s 50-day moving average is $48.02 and its two-hundred day moving average is $43.54. 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 company has a market capitalization of $13.73 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.92 and a beta of 1.53. Tapestry, Inc. has a 12-month low of $30.20 and a 12-month high of $59.69.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.18% of the stock is currently owned by company insiders.

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.