Decker Retirement Planning Inc. Takes Position in Tapestry, Inc. (NYSE:TPR)

Decker Retirement Planning Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 52,603 shares of the luxury accessories retailer’s stock, valued at approximately $3,437,000. Tapestry accounts for approximately 2.0% of Decker Retirement Planning Inc.’s portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Choreo LLC purchased a new stake in Tapestry during the 2nd quarter valued at approximately $242,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Tapestry by 16.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 11,273 shares of the luxury accessories retailer’s stock valued at $464,000 after purchasing an additional 1,631 shares during the period. Federated Hermes Inc. raised its stake in shares of Tapestry by 25.1% during the second quarter. Federated Hermes Inc. now owns 81,618 shares of the luxury accessories retailer’s stock worth $3,492,000 after purchasing an additional 16,387 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Tapestry by 14.0% during the second quarter. Envestnet Asset Management Inc. now owns 512,739 shares of the luxury accessories retailer’s stock worth $21,940,000 after purchasing an additional 62,802 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Tapestry by 4.9% in 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 last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America upped their price objective on shares of Tapestry from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. BMO Capital Markets lifted their price objective on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, November 18th. The Goldman Sachs Group increased their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Robert W. Baird lifted their price target on Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.76.

Tapestry Price Performance

Tapestry stock opened at $69.63 on Friday. The firm has a market capitalization of $16.23 billion, a PE ratio of 20.12, a P/E/G ratio of 1.91 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $69.84. The firm’s 50-day simple moving average is $62.47 and its 200 day simple moving average is $49.65. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, December 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

Tapestry Company 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.