Tapestry, Inc. (NYSE:TPR) Shares Sold by Boltwood Capital Management

Boltwood Capital Management lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,178 shares of the luxury accessories retailer’s stock after selling 1,215 shares during the quarter. Boltwood Capital Management’s holdings in Tapestry were worth $600,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Redwood Investment Management LLC increased its stake in shares of Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after acquiring an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC grew its holdings in shares of Tapestry by 2.8% in 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 during the period. OneDigital Investment Advisors LLC increased its position in Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after purchasing an additional 218 shares during the last quarter. Summit Trail Advisors LLC raised its stake in Tapestry by 1.6% during the third 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, GAMMA Investing LLC grew its stake in shares of Tapestry by 4.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 2.0 %

NYSE TPR traded up $1.33 during trading on Monday, reaching $68.10. 1,115,932 shares of the company’s stock were exchanged, compared to its average volume of 2,561,211. 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 1 year low of $35.23 and a 1 year high of $68.42. The stock has a market cap of $15.87 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. The company has a 50 day moving average price of $59.08 and a two-hundred day moving average price of $48.11.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.06%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Insider Buying and Selling at Tapestry

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 completion of the sale, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. 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 insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on TPR shares. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Jefferies Financial Group raised shares of Tapestry from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $80.00 in a research report on Thursday, December 19th. The Goldman Sachs Group boosted their price target on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BMO Capital Markets increased their price objective 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. Finally, Robert W. Baird boosted their target price on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.24.

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.