Geode Capital Management LLC Buys 80,681 Shares of Tapestry, Inc. (NYSE:TPR)

Geode Capital Management LLC increased its stake in Tapestry, Inc. (NYSE:TPR) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,588,879 shares of the luxury accessories retailer’s stock after acquiring an additional 80,681 shares during the period. Geode Capital Management LLC owned about 2.40% of Tapestry worth $262,156,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TPR. Charles Schwab Investment Management Inc. lifted its position in Tapestry by 3.7% in 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 purchasing an additional 272,007 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after buying an additional 58,135 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Tapestry by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock valued at $151,965,000 after buying an additional 165,406 shares during the period. Bank of New York Mellon Corp grew its holdings in Tapestry by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock worth $116,928,000 after acquiring an additional 46,760 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of 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 valued at $79,822,000 after acquiring an additional 219,544 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TPR shares. Barclays reiterated an “equal weight” rating and set a $57.00 target price on shares of Tapestry in a report on Wednesday, November 20th. Bank of America increased their price objective on Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird boosted their target price on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 29th. Finally, Telsey Advisory Group boosted their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.94.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction that occurred 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 sale, 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 filing with the SEC, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $63.20 on Friday. 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 market cap of $14.73 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.80 and a beta of 1.60. The business’s 50 day moving average price is $53.20 and its 200-day moving average price is $45.75. Tapestry, Inc. has a 52 week low of $35.06 and a 52 week high of $65.30.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is 40.46%.

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.