1,010 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in Tapestry, Inc. (NYSE:TPR) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,010 shares of the luxury accessories retailer’s stock, valued at approximately $47,000.

A number of other hedge funds also recently added to or reduced their stakes in TPR. Tidal Investments LLC grew its position in Tapestry by 69.4% in the 1st quarter. Tidal Investments LLC now owns 40,785 shares of the luxury accessories retailer’s stock worth $1,936,000 after purchasing an additional 16,712 shares during the period. Virtu Financial LLC bought a new stake in Tapestry in the 1st quarter worth approximately $445,000. Cetera Investment Advisers grew its position in Tapestry by 125.0% in the 1st quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock worth $2,524,000 after purchasing an additional 29,529 shares during the period. Cetera Advisors LLC grew its position in Tapestry by 110.1% in the 1st quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock worth $768,000 after purchasing an additional 8,476 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Tapestry by 75.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,642 shares of the luxury accessories retailer’s stock worth $448,000 after purchasing an additional 4,148 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Up 2.2 %

Shares of TPR stock opened at $62.28 on Friday. The stock has a market cap of $14.51 billion, a P/E ratio of 18.00, a PEG ratio of 2.11 and a beta of 1.53. Tapestry, Inc. has a 52 week low of $31.37 and a 52 week high of $62.64. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The company’s fifty day simple moving average is $49.45 and its two-hundred day simple moving average is $44.14.

Tapestry Dividend Announcement

The business also recently declared 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. This represents a $1.40 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Daiwa America raised shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Robert W. Baird lifted their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America boosted their price objective on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, UBS Group cut their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average target price of $57.78.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on 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 owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.