Wilmington Savings Fund Society FSB Invests $333,000 in Tapestry, Inc. (NYSE:TPR)

Wilmington Savings Fund Society FSB purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,094 shares of the luxury accessories retailer’s stock, valued at approximately $333,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Waldron Private Wealth LLC purchased a new position in Tapestry during the 3rd quarter valued at $25,000. Brooklyn Investment Group bought a new position in Tapestry in the third quarter worth about $47,000. Blue Trust Inc. lifted its holdings in Tapestry by 111.9% in the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 556 shares during the period. MUFG Securities EMEA plc boosted its position in Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Tapestry during the 2nd quarter worth approximately $53,000. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value 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 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 can be accessed through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TPR has been the topic of several research reports. Evercore ISI lifted their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Finally, Citigroup raised 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. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.47.

Tapestry Price Performance

Shares of NYSE:TPR opened at $64.20 on Tuesday. 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 firm has a market cap of $14.96 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The business has a 50-day simple moving average of $53.57 and a two-hundred day simple moving average of $45.94. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $65.30.

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. The ex-dividend date is Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. Tapestry’s dividend payout ratio (DPR) 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.