Clark Estates Inc. NY Sells 5,150 Shares of Tapestry, Inc. (NYSE:TPR)

Clark Estates Inc. NY reduced its stake in Tapestry, Inc. (NYSE:TPR) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,700 shares of the luxury accessories retailer’s stock after selling 5,150 shares during the quarter. Clark Estates Inc. NY’s holdings in Tapestry were worth $2,993,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Tapestry by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares during the period. Pacer Advisors Inc. grew its stake in shares of Tapestry by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after buying an additional 58,135 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after buying an additional 165,406 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tapestry by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after purchasing an additional 46,760 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Tapestry by 14.8% during the 3rd 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. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 0.3 %

TPR stock opened at $61.06 on Wednesday. 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 52-week low of $30.20 and a 52-week high of $61.44. The company’s 50-day simple moving average is $48.37 and its 200-day simple moving average is $43.75. The firm has a market cap of $14.23 billion, a P/E ratio of 17.65, a PEG ratio of 2.11 and a beta of 1.53.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred on 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 owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TPR shares. Daiwa America raised shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. Raymond James reaffirmed an “outperform” rating and set a $57.00 target price (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Citigroup upped their target price on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, TD Cowen downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research note on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.78.

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.