11,908 Shares in Tapestry, Inc. (NYSE:TPR) Purchased by Claro Advisors LLC

Claro Advisors LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,908 shares of the luxury accessories retailer’s stock, valued at approximately $559,000.

Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in shares of Tapestry by 2.5% during the 1st quarter. Russell Investments Group Ltd. now owns 106,750 shares of the luxury accessories retailer’s stock worth $5,068,000 after purchasing an additional 2,599 shares during the period. Blair William & Co. IL bought a new stake in Tapestry in the first quarter worth about $216,000. Edgestream Partners L.P. boosted its position in shares of Tapestry by 17.4% during the first quarter. Edgestream Partners L.P. now owns 41,789 shares of the luxury accessories retailer’s stock valued at $1,984,000 after buying an additional 6,206 shares during the period. Clearbridge Investments LLC bought a new position in shares of Tapestry during the first quarter valued at approximately $54,055,000. Finally, UniSuper Management Pty Ltd raised its holdings in shares of Tapestry by 845.4% in the first quarter. UniSuper Management Pty Ltd now owns 18,729 shares of the luxury accessories retailer’s stock worth $889,000 after buying an additional 16,748 shares during the period. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James restated an “outperform” rating and set a $57.00 price objective (up previously from $55.00) on shares of Tapestry in a report on Friday, November 8th. Guggenheim upped their price target on shares of Tapestry from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group raised their price target on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird boosted their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday. Finally, StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.82.

Insider Activity

In other news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Down 1.2 %

NYSE:TPR opened at $56.55 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. The stock has a market capitalization of $13.18 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.99 and a beta of 1.53. The company’s 50-day simple moving average is $46.85 and its 200-day simple moving average is $43.12. Tapestry, Inc. has a fifty-two week low of $30.19 and a fifty-two week high of $58.49.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio 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.