TCW Group Inc. Buys 82,649 Shares of Tapestry, Inc. (NYSE:TPR)

TCW Group Inc. increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 17.5% in the third quarter, Holdings Channel.com reports. The fund owned 554,104 shares of the luxury accessories retailer’s stock after purchasing an additional 82,649 shares during the period. TCW Group Inc.’s holdings in Tapestry were worth $26,032,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redwood Investment Management LLC boosted its holdings in shares of Tapestry by 0.4% during the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after purchasing an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC lifted its position in shares of Tapestry by 2.8% in the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after buying an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in Tapestry by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after buying an additional 218 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Tapestry by 1.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after buying an additional 251 shares in the last quarter. Finally, Legend Financial Advisors Inc. increased its stake in 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 last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s 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 completion of the sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is owned by insiders.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Robert W. Baird boosted their target price on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Citigroup increased their price target on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barclays reissued an “equal weight” rating and set a $57.00 price objective on shares of Tapestry in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price objective on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Eight 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.com, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $57.78.

Tapestry Trading Down 1.4 %

Shares of TPR opened at $61.39 on Wednesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.16 and a beta of 1.60. The company has a 50-day moving average of $52.22 and a 200 day moving average of $45.35. Tapestry, Inc. has a 1-year low of $33.29 and a 1-year high of $65.30.

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 issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.28%. Tapestry’s payout ratio is 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.