Raymond James Trust N.A. Sells 6,661 Shares of Tapestry, Inc. (NYSE:TPR)

Raymond James Trust N.A. lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 45.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,981 shares of the luxury accessories retailer’s stock after selling 6,661 shares during the period. Raymond James Trust N.A.’s holdings in Tapestry were worth $375,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the third quarter valued at $25,000. Massmutual Trust Co. FSB ADV grew its position in shares of Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. increased its stake in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the last quarter. MUFG Securities EMEA plc raised its holdings in shares of Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares during the period. Finally, Chilton Capital Management LLC acquired a new stake in Tapestry in the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

TPR stock opened at $61.06 on Wednesday. The company’s 50-day moving average price is $48.37 and its two-hundred day moving average price is $43.75. The firm has a market cap of $14.23 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.04 and a beta of 1.53. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 12 month low of $30.20 and a 12 month high of $61.44.

Tapestry Announces Dividend

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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upped their price objective on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Daiwa America upgraded Tapestry to a “hold” rating in a research note on Monday, November 18th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Company increased their price objective on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Telsey Advisory Group upped their price target on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $57.78.

Tapestry 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.