Tapestry, Inc. (NYSE:TPR) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 76.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,244,070 shares of the luxury accessories retailer’s stock after purchasing an additional 539,793 shares during the period. Bank of Montreal Can’s holdings in Tapestry were worth $59,641,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TPR. Tidal Investments LLC grew its holdings in Tapestry by 69.4% during the 1st quarter. Tidal Investments LLC now owns 40,785 shares of the luxury accessories retailer’s stock valued at $1,936,000 after purchasing an additional 16,712 shares in the last quarter. Hancock Whitney Corp grew its holdings in Tapestry by 5.2% during the 1st quarter. Hancock Whitney Corp now owns 14,327 shares of the luxury accessories retailer’s stock valued at $680,000 after purchasing an additional 714 shares in the last quarter. Virtu Financial LLC acquired a new stake in Tapestry during the 1st quarter valued at $445,000. Cetera Investment Advisers grew its holdings in Tapestry by 125.0% during the 1st quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock valued at $2,524,000 after purchasing an additional 29,529 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in Tapestry by 110.1% during the 1st quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock valued at $768,000 after purchasing an additional 8,476 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Guggenheim increased their price objective 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. Telsey Advisory Group increased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Eight research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

Tapestry Trading Down 0.2 %

Shares of NYSE:TPR opened at $60.92 on Thursday. The company has a market cap of $14.20 billion, a PE ratio of 17.61, a P/E/G ratio of 2.11 and a beta of 1.53. The company’s 50-day moving average price is $48.73 and its 200 day moving average price is $43.90. Tapestry, Inc. has a fifty-two week low of $30.68 and a fifty-two week high of $61.59. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Announces Dividend

The company 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 $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.30%. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the firm’s 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 transaction, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is currently owned by insiders.

About Tapestry

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.