Wellington Management Group LLP Boosts Holdings in Tapestry, Inc. (NYSE:TPR)

Wellington Management Group LLP grew its position in Tapestry, Inc. (NYSE:TPR) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,900 shares of the luxury accessories retailer’s stock after acquiring an additional 29,987 shares during the quarter. Wellington Management Group LLP owned about 0.08% of Tapestry worth $8,452,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TPR. Victory Capital Management Inc. raised its position in Tapestry by 7.5% in the 3rd 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 during the period. Fiera Capital Corp raised its holdings in shares of Tapestry by 1.2% in the second quarter. Fiera Capital Corp now owns 1,462,721 shares of the luxury accessories retailer’s stock worth $62,590,000 after buying an additional 17,497 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Tapestry in the third quarter worth approximately $5,446,000. Valley Wealth Managers Inc. lifted its stake in shares of Tapestry by 2.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after acquiring an additional 8,833 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after acquiring an additional 219,544 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Guggenheim boosted their price objective on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets raised their target price on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Finally, Barclays reissued an “equal weight” rating and issued a $57.00 price objective on shares of Tapestry in a research note on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.94.

Tapestry Stock Up 2.8 %

NYSE:TPR opened at $63.20 on Monday. The company’s 50-day simple moving average is $53.20 and its 200-day simple moving average is $45.78. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry, Inc. has a fifty-two week low of $35.06 and a fifty-two week high of $65.30. The stock has a market capitalization of $14.73 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.80 and a beta of 1.60.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.22%. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.18% of the company’s stock.

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.