Tapestry, Inc. (NYSE:TPR) Shares Bought by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. raised its stake in Tapestry, Inc. (NYSE:TPR) by 159,100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,592 shares of the luxury accessories retailer’s stock after purchasing an additional 1,591 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Tapestry were worth $75,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TPR. Tidal Investments LLC boosted its holdings in shares of Tapestry by 69.4% in the 1st quarter. Tidal Investments LLC now owns 40,785 shares of the luxury accessories retailer’s stock valued at $1,936,000 after purchasing an additional 16,712 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of Tapestry by 5.2% in the 1st quarter. Hancock Whitney Corp now owns 14,327 shares of the luxury accessories retailer’s stock valued at $680,000 after purchasing an additional 714 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Tapestry in the 1st quarter valued at $445,000. Cetera Investment Advisers boosted its holdings in shares of Tapestry by 125.0% in the 1st quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock valued at $2,524,000 after purchasing an additional 29,529 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in shares of Tapestry by 110.1% during the 1st quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock valued at $768,000 after acquiring an additional 8,476 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $60.92 on Thursday. 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 fifty-two week low of $30.68 and a fifty-two week high of $61.59. The firm has a 50-day simple moving average of $48.73 and a 200 day simple moving average of $43.90. The company has a market cap of $14.20 billion, a PE ratio of 17.61, a P/E/G ratio of 2.11 and a beta of 1.53.

Tapestry Dividend Announcement

The firm 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent research reports. Raymond James restated an “outperform” rating and set a $57.00 target price (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Guggenheim lifted their target price on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. Citigroup lifted their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Bank of America lifted their target price on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $57.78.

Tapestry 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.