Fortem Financial Group LLC Sells 193 Shares of Tapestry, Inc. (NYSE:TPR)

Fortem Financial Group LLC trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,931 shares of the luxury accessories retailer’s stock after selling 193 shares during the period. Fortem Financial Group LLC’s holdings in Tapestry were worth $779,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Everence Capital Management Inc. acquired a new position in shares of Tapestry in the 4th quarter valued at $362,000. GAMMA Investing LLC lifted its stake in Tapestry by 23.8% in the fourth quarter. GAMMA Investing LLC now owns 7,544 shares of the luxury accessories retailer’s stock valued at $493,000 after buying an additional 1,449 shares during the period. Retirement Systems of Alabama grew its position in shares of Tapestry by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 51,180 shares of the luxury accessories retailer’s stock worth $2,404,000 after buying an additional 493 shares during the period. Franklin Resources Inc. increased its stake in shares of Tapestry by 10.6% in the 3rd quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer’s stock valued at $7,442,000 after acquiring an additional 15,585 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Tapestry by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 27,401 shares of the luxury accessories retailer’s stock valued at $1,287,000 after acquiring an additional 481 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry 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 of the company’s stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPR. Wells Fargo & Company upped their target price on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Tuesday, October 29th. Robert W. Baird increased their target price on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Guggenheim lifted their price target on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.24.

Tapestry Stock Performance

TPR stock traded up $0.56 during trading hours on Monday, reaching $67.33. The stock had a trading volume of 2,880,300 shares, compared to its average volume of 3,132,903. The stock has a market capitalization of $15.69 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. The stock has a 50-day simple moving average of $59.08 and a 200 day simple moving average of $48.11. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $68.42. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

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.