4,381 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Metis Global Partners LLC

Metis Global Partners LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,381 shares of the luxury accessories retailer’s stock, valued at approximately $206,000.

Other hedge funds also recently added to or reduced their stakes in the company. Lebenthal Global Advisors LLC raised its stake in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares during the last quarter. Mather Group LLC. raised its position in Tapestry by 12.9% during the 2nd quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after buying an additional 249 shares during the last quarter. Legend Financial Advisors Inc. lifted its stake in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after acquiring an additional 257 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Tapestry by 4.8% in the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock valued at $286,000 after acquiring an additional 280 shares in the last quarter. Finally, MUFG Securities EMEA plc increased its stake in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on TPR shares. UBS Group reduced 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. Robert W. Baird lifted their price target on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Wells Fargo & Company increased their price objective on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

Tapestry Price Performance

Shares of NYSE:TPR opened at $55.62 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The business’s fifty day moving average price is $47.14 and its two-hundred day moving average price is $43.23. The stock has a market cap of $12.96 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. Tapestry, Inc. has a one year low of $30.19 and a one year high of $58.49.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by corporate insiders.

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.