Secure Asset Management LLC Purchases 1,651 Shares of Tapestry, Inc. (NYSE:TPR)

Secure Asset Management LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,543 shares of the luxury accessories retailer’s stock after acquiring an additional 1,651 shares during the quarter. Secure Asset Management LLC’s holdings in Tapestry were worth $2,518,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPR. Waldron Private Wealth LLC bought a new position in Tapestry in the third quarter worth $25,000. Brooklyn Investment Group acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $47,000. UMB Bank n.a. increased its stake in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after acquiring an additional 496 shares during the period. Deseret Mutual Benefit Administrators raised its position in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tapestry during the second quarter worth about $68,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR stock opened at $73.56 on Friday. The firm has a market cap of $17.14 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.09 and a beta of 1.58. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $74.54. 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 stock has a 50-day moving average price of $64.47 and a 200 day moving average price of $50.77.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s dividend payout ratio is 40.46%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Robert W. Baird increased their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Citigroup boosted their target price on shares of Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their target price on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group upgraded shares of Tapestry from a “hold” rating to a “buy” rating and boosted their price target for the company from $50.00 to $80.00 in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.78.

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.