Dumont & Blake Investment Advisors LLC Reduces Position in Tapestry, Inc. (NYSE:TPR)

Dumont & Blake Investment Advisors LLC lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 13.0% during the 4th quarter, Holdings Channel reports. The firm owned 33,132 shares of the luxury accessories retailer’s stock after selling 4,930 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Tapestry were worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Tapestry by 7.5% in the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after buying an additional 30,121 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Tapestry in the 3rd quarter valued at $5,446,000. Valley Wealth Managers Inc. boosted its holdings in shares of Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after acquiring an additional 8,833 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Tapestry in the fourth quarter valued at $3,437,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent research reports. Citigroup upped their target price on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Telsey Advisory Group upped their price objective on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Raymond James restated an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Finally, Bank of America increased their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.56.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.18% of the stock is currently owned by company insiders.

Tapestry Stock Performance

NYSE:TPR opened at $75.80 on Friday. The company’s 50-day moving average price is $66.27 and its 200-day moving average price is $51.87. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company has a market cap of $17.66 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $76.49.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.85%. Tapestry’s payout ratio is 40.46%.

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.