Fmr LLC Sells 2,401,271 Shares of Tapestry, Inc. (NYSE:TPR)

Fmr LLC decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,920,288 shares of the luxury accessories retailer’s stock after selling 2,401,271 shares during the period. Fmr LLC owned about 6.83% of Tapestry worth $747,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TPR. Waldron Private Wealth LLC bought a new stake in shares of Tapestry during the 3rd quarter valued at $25,000. Massmutual Trust Co. FSB ADV grew its position in shares of Tapestry by 54.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. grew its position in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares during the period. MUFG Securities EMEA plc grew its position in shares of Tapestry by 34.9% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after acquiring an additional 317 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in shares of Tapestry during the 2nd quarter valued at $53,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction 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 completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TPR. Citigroup upped their target price on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Daiwa America raised shares of Tapestry to a “hold” rating in a report on Monday, November 18th. Guggenheim upped their target price on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.78.

Tapestry Trading Down 0.2 %

Shares of Tapestry stock opened at $60.92 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The firm has a fifty day moving average price of $49.09 and a 200 day moving average price of $44.02. Tapestry, Inc. has a 1 year low of $30.68 and a 1 year high of $61.59. The stock 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.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. Tapestry’s dividend payout ratio (DPR) is presently 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.