Summit Trail Advisors LLC Has $765,000 Position in Tapestry, Inc. (NYSE:TPR)

Summit Trail Advisors LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,273 shares of the luxury accessories retailer’s stock after purchasing an additional 251 shares during the period. Summit Trail Advisors LLC’s holdings in Tapestry were worth $765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its stake 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 buying an additional 219,544 shares during the period. Swedbank AB raised its position in shares of Tapestry by 9.2% in the third quarter. Swedbank AB now owns 1,092,260 shares of the luxury accessories retailer’s stock valued at $51,314,000 after buying an additional 92,458 shares in the last quarter. Algert Global LLC raised its holdings in Tapestry by 17.3% in the 3rd quarter. Algert Global LLC now owns 45,054 shares of the luxury accessories retailer’s stock valued at $2,117,000 after acquiring an additional 6,640 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Tapestry by 25.3% during the third quarter. Kingsview Wealth Management LLC now owns 6,661 shares of the luxury accessories retailer’s stock worth $313,000 after purchasing an additional 1,346 shares during the period. Finally, Cerity Partners LLC lifted its position in Tapestry by 179.1% during the third quarter. Cerity Partners LLC now owns 116,106 shares of the luxury accessories retailer’s stock worth $5,455,000 after purchasing an additional 74,509 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

NYSE TPR opened at $60.86 on Tuesday. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 2.04 and a beta of 1.53. 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, Inc. has a twelve month low of $30.20 and a twelve month high of $61.28. The stock has a fifty day simple moving average of $48.37 and a 200 day simple moving average of $43.75.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. 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 2.30%. Tapestry’s dividend payout ratio (DPR) is 40.46%.

Analysts Set New Price Targets

Several equities analysts have recently commented on TPR shares. Raymond James restated an “outperform” rating and issued a $57.00 target price (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Citigroup raised their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Evercore ISI lifted their target price on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.78.

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 shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.18% of the stock is 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.