Kingsview Wealth Management LLC Boosts Position in Tapestry, Inc. (NYSE:TPR)

Kingsview Wealth Management LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 25.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,661 shares of the luxury accessories retailer’s stock after buying an additional 1,346 shares during the period. Kingsview Wealth Management LLC’s holdings in Tapestry were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in Tapestry by 179.1% in the third quarter. Cerity Partners LLC now owns 116,106 shares of the luxury accessories retailer’s stock worth $5,455,000 after purchasing an additional 74,509 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after buying an additional 58,135 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Tapestry in the third quarter valued at about $251,000. Finally, Caprock Group LLC purchased a new stake in Tapestry in the third quarter worth about $240,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Up 2.2 %

Shares of TPR stock opened at $62.28 on Friday. Tapestry, Inc. has a twelve month low of $31.37 and a twelve month high of $62.64. The stock has a market cap of $14.51 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.11 and a beta of 1.53. The stock has a 50 day moving average of $49.45 and a 200 day moving average of $44.14. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TPR. Daiwa America upgraded shares of Tapestry to a “hold” rating in a report on Monday, November 18th. Telsey Advisory Group boosted their price objective on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Bank of America increased their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price target on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

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.