IRON Financial LLC Has $319,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

IRON Financial LLC raised its position in Tapestry, Inc. (NYSE:TPR) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,882 shares of the luxury accessories retailer’s stock after acquiring an additional 208 shares during the period. IRON Financial LLC’s holdings in Tapestry were worth $319,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Redwood Investment Management LLC raised its stake in shares of Tapestry by 0.4% in the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock valued at $2,269,000 after purchasing an additional 204 shares in the last quarter. Lebenthal Global Advisors LLC increased its holdings in Tapestry by 2.8% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock valued at $367,000 after buying an additional 215 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after buying an additional 218 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Tapestry by 1.4% during the 4th quarter. Fifth Third Bancorp now owns 17,503 shares of the luxury accessories retailer’s stock worth $1,143,000 after acquiring an additional 248 shares during the period. Finally, Summit Trail Advisors LLC boosted its position in shares of Tapestry by 1.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Tapestry from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.00 to $80.00 in a research note on Thursday, December 19th. Raymond James restated an “outperform” rating and set a $57.00 target price (up previously from $55.00) on shares of Tapestry in a research report on Friday, November 8th. BMO Capital Markets boosted their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, November 18th. Bank of America increased their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Citigroup boosted 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. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.39.

Insider Buying and Selling at Tapestry

In related 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.18% of the company’s stock.

Tapestry Stock Down 3.0 %

NYSE TPR opened at $72.43 on Tuesday. The stock has a market capitalization of $16.88 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $75.78. 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 stock has a fifty day moving average of $65.14 and a 200-day moving average of $51.33.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.93%. Tapestry’s dividend payout ratio is currently 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.