Blueshift Asset Management LLC Buys 51,174 Shares of Tapestry, Inc. (NYSE:TPR)

Blueshift Asset Management LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 86.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 110,152 shares of the luxury accessories retailer’s stock after acquiring an additional 51,174 shares during the period. Tapestry makes up 1.3% of Blueshift Asset Management LLC’s holdings, making the stock its 7th biggest holding. Blueshift Asset Management LLC’s holdings in Tapestry were worth $5,175,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Manning & Napier Advisors LLC purchased a new position in Tapestry in the 2nd quarter valued at about $3,718,000. Lazard Asset Management LLC boosted its holdings in Tapestry by 611.8% in the first quarter. Lazard Asset Management LLC now owns 63,617 shares of the luxury accessories retailer’s stock valued at $3,019,000 after purchasing an additional 54,679 shares during the last quarter. Victory Capital Management Inc. grew its stake in Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after purchasing an additional 30,121 shares in the last quarter. Fiera Capital Corp increased its holdings in Tapestry by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,462,721 shares of the luxury accessories retailer’s stock worth $62,590,000 after purchasing an additional 17,497 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Tapestry in the 3rd quarter valued at approximately $5,446,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPR. Robert W. Baird lifted their price target on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Citigroup upped their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America increased their target price on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Telsey Advisory Group boosted their target price on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently 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 Tapestry stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Tapestry Trading Up 0.3 %

Shares of TPR opened at $61.06 on Wednesday. Tapestry, Inc. has a 1-year low of $30.20 and a 1-year high of $61.44. The business’s 50-day moving average price is $48.37 and its 200 day moving average price is $43.75. The stock has a market capitalization of $14.23 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.11 and a beta of 1.53. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. Tapestry’s dividend payout ratio (DPR) is presently 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.