Peapack Gladstone Financial Corp Has $363,000 Holdings in Tapestry, Inc. (NYSE:TPR)

Peapack Gladstone Financial Corp lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 8.9% during the third quarter, Holdings Channel reports. The fund owned 7,730 shares of the luxury accessories retailer’s stock after selling 755 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Tapestry were worth $363,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TPR. Pacer Advisors Inc. boosted its position in shares of Tapestry by 53.1% during the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after purchasing an additional 2,087,586 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Tapestry during the 3rd quarter worth approximately $64,016,000. AQR Capital Management LLC boosted its holdings in Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after acquiring an additional 1,051,743 shares in the last quarter. Bank of Montreal Can grew its stake in Tapestry by 76.6% in the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after acquiring an additional 539,793 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after acquiring an additional 272,007 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE:TPR opened at $64.20 on Tuesday. The company has a market capitalization of $14.96 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.80 and a beta of 1.60. The business has a fifty day simple moving average of $53.57 and a two-hundred day simple moving average of $45.94. 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 $35.23 and a 1 year high of $65.30.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is currently 40.46%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the business’s 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 sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TPR. Robert W. Baird lifted their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. TD Cowen lowered shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Evercore ISI lifted their price target on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Daiwa America raised Tapestry to a “hold” rating in a research note on Monday, November 18th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.47.

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.