Guidance Capital Inc. Makes New $790,000 Investment in Tapestry, Inc. (NYSE:TPR)

Guidance Capital Inc. acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,087 shares of the luxury accessories retailer’s stock, valued at approximately $790,000.

Several other large investors also recently modified their holdings of TPR. Victory Capital Management Inc. lifted its stake in Tapestry by 7.5% in the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after buying an additional 30,121 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Tapestry in the 3rd quarter valued at $5,446,000. Valley Wealth Managers Inc. lifted its position in shares of Tapestry by 2.1% during the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after acquiring an additional 8,833 shares during the period. Decker Retirement Planning Inc. bought a new position in Tapestry during the fourth quarter worth $3,437,000. Finally, Westfield Capital Management Co. LP grew its holdings in Tapestry by 14.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after purchasing an additional 219,544 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

Tapestry Price Performance

Tapestry stock opened at $72.92 on Wednesday. The stock has a market cap of $16.99 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.07 and a beta of 1.58. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The company’s 50 day moving average price is $67.05 and its two-hundred day moving average price is $52.66. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $76.49.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were given a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 1.92%. Tapestry’s dividend payout ratio is currently 40.46%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPR. Telsey Advisory Group increased their price objective on shares of Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Tapestry from $66.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. BMO Capital Markets raised their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research note 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 research report on Friday, October 25th. Finally, Guggenheim lifted their price target on shares of Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $67.28.

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.