Tapestry, Inc. (NYSE:TPR) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,432 shares of the luxury accessories retailer’s stock after purchasing an additional 711 shares during the period. The Manufacturers Life Insurance Company’s holdings in Tapestry were worth $8,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Lebenthal Global Advisors LLC grew its stake in shares of Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares during the period. 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 stake in shares of Tapestry by 12.9% in the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 249 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in Tapestry by 1.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock worth $765,000 after purchasing an additional 251 shares during the period. Finally, Legend Financial Advisors Inc. boosted its position in Tapestry by 1.9% during 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 in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of TPR stock opened at $64.31 on Wednesday. The firm’s 50-day moving average is $50.25 and its two-hundred day moving average is $44.46. Tapestry, Inc. has a 12 month low of $32.20 and a 12 month high of $65.30. 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 $14.99 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.60.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors 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 yield of 2.18%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio 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 dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TPR shares. Guggenheim boosted their price objective on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Telsey Advisory Group boosted their price target on shares of Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Raymond James restated an “outperform” rating and set a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Citigroup lifted their price objective on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Daiwa America raised Tapestry to a “hold” rating in a report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average 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.