Glenmede Trust Co. NA Has $2.15 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Glenmede Trust Co. NA boosted its stake in Tapestry, Inc. (NYSE:TPR) by 55.8% in the third quarter, HoldingsChannel.com reports. The firm owned 45,674 shares of the luxury accessories retailer’s stock after buying an additional 16,353 shares during the period. Glenmede Trust Co. NA’s holdings in Tapestry were worth $2,146,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Waldron Private Wealth LLC acquired a new stake in shares of Tapestry in the third quarter valued at about $25,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Tapestry by 54.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after buying an additional 328 shares during the period. Brooklyn Investment Group bought a new position in Tapestry during the 3rd quarter worth approximately $47,000. Blue Trust Inc. raised its holdings in 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. Finally, MUFG Securities EMEA plc raised its holdings in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

TPR opened at $62.28 on Monday. 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 $14.51 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.16 and a beta of 1.53. The firm’s fifty day moving average price is $49.84 and its two-hundred day moving average price is $44.30. Tapestry, Inc. has a 1 year low of $31.37 and a 1 year high of $62.64.

Tapestry Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on TPR. The Goldman Sachs Group raised their price target on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets raised their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, November 18th. Guggenheim raised their price target on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Citigroup raised their price target on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI lifted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

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.