Kentucky Retirement Systems Insurance Trust Fund Sells 595 Shares of Tapestry, Inc. (NYSE:TPR)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Tapestry, Inc. (NYSE:TPR) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,816 shares of the luxury accessories retailer’s stock after selling 595 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Tapestry were worth $320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new position in shares of Tapestry in the 3rd quarter valued at about $25,000. Massmutual Trust Co. FSB ADV grew its position in shares of Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. grew its position in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares during the period. MUFG Securities EMEA plc lifted its stake in shares of 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 buying an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in Tapestry in the 2nd quarter worth about $53,000. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

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 value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of several analyst reports. Bank of America boosted their target price 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. UBS Group decreased their price target on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Guggenheim boosted their target price on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $57.82.

Tapestry Price Performance

TPR opened at $55.62 on Wednesday. The firm has a market cap of $12.96 billion, a P/E ratio of 16.08, a PEG ratio of 1.98 and a beta of 1.53. The firm has a 50-day moving average of $47.14 and a 200 day moving average of $43.23. 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 fifty-two week low of $30.19 and a fifty-two week high of $58.49.

Tapestry Dividend Announcement

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

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.