Tapestry, Inc. (NYSE:TPR) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its stake in shares of Tapestry, Inc. (NYSE:TPR) by 19.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 487,776 shares of the luxury accessories retailer’s stock after selling 121,126 shares during the period. Bridgewater Associates LP owned about 0.21% of Tapestry worth $22,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TPR. Lebenthal Global Advisors LLC increased its stake in shares of Tapestry by 2.8% during the third quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after purchasing an additional 215 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in Tapestry by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after buying an additional 218 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock valued at $104,000 after acquiring an additional 249 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of Tapestry by 1.6% in the third 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. Finally, Legend Financial Advisors Inc. boosted its stake in shares of Tapestry by 1.9% in the second quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock worth $581,000 after acquiring an additional 257 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.2 %

Shares of TPR stock opened at $60.92 on Thursday. Tapestry, Inc. has a 1-year low of $30.68 and a 1-year high of $61.59. The firm has a market cap of $14.20 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.11 and a beta of 1.53. The company has a 50-day moving average of $48.73 and a two-hundred day moving average of $43.90. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

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 given a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the firm’s stock in a transaction dated 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 $2,028,773.88. This trade represents a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their price target on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Telsey Advisory Group increased their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Robert W. Baird boosted their target price on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, UBS Group dropped their price target on Tapestry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.