Holocene Advisors LP Invests $5.95 Million in Tapestry, Inc. (NYSE:TPR)

Holocene Advisors LP purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 126,712 shares of the luxury accessories retailer’s stock, valued at approximately $5,953,000. Holocene Advisors LP owned approximately 0.05% of Tapestry at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers increased its position in shares of Tapestry by 125.0% in the first quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock valued at $2,524,000 after buying an additional 29,529 shares in the last quarter. Cetera Advisors LLC boosted its stake in Tapestry by 110.1% during the first quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock worth $768,000 after buying an additional 8,476 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Tapestry by 75.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 9,642 shares of the luxury accessories retailer’s stock worth $448,000 after buying an additional 4,148 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after buying an additional 328 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in Tapestry by 12.9% during the second quarter. Mather Group LLC. now owns 2,181 shares of the luxury accessories retailer’s stock worth $104,000 after buying an additional 249 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPR has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America upped their price target on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $57.00 price target (up previously from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.78.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the company’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 of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $63.83 on Thursday. The stock’s 50-day moving average is $50.63 and its two-hundred day moving average is $44.62. 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, Inc. has a 1-year low of $32.20 and a 1-year high of $65.30. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.24 and a beta of 1.60.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.19%. Tapestry’s dividend payout ratio (DPR) is 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.