Rodgers Brothers Inc. acquired a new position in Tapestry Inc (NYSE:TPR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 51,255 shares of the luxury accessories retailer’s stock, valued at approximately $2,267,000.
A number of other large investors have also recently added to or reduced their stakes in TPR. Hexavest Inc. bought a new position in shares of Tapestry during the 4th quarter valued at approximately $106,000. First Dallas Securities Inc. bought a new position in shares of Tapestry during the 4th quarter valued at approximately $108,000. Dupont Capital Management Corp bought a new position in shares of Tapestry during the 4th quarter valued at approximately $110,000. Cerebellum GP LLC bought a new position in shares of Tapestry during the 4th quarter valued at approximately $118,000. Finally, American Research & Management Co. bought a new position in shares of Tapestry during the 4th quarter valued at approximately $129,000. 89.28% of the stock is currently owned by institutional investors and hedge funds.
Tapestry Inc (TPR) opened at $52.98 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.90 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $14,944.93, a PE ratio of 47.30, a PEG ratio of 1.81 and a beta of 0.48. Tapestry Inc has a 1-year low of $37.92 and a 1-year high of $53.40.
The firm also recently declared a dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a dividend of $0.3375 per share. The ex-dividend date of this dividend is Thursday, March 8th. Tapestry’s dividend payout ratio is currently 120.54%.
Several equities analysts have recently weighed in on TPR shares. Zacks Investment Research downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Canaccord Genuity set a $58.00 price objective on Tapestry and gave the company a “buy” rating in a research report on Sunday, January 7th. Robert W. Baird set a $50.00 price objective on Tapestry and gave the company a “buy” rating in a research report on Friday, December 22nd. Needham & Company LLC assumed coverage on Tapestry in a research report on Monday, December 18th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets upped their price objective on Tapestry from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Tapestry has a consensus rating of “Buy” and a consensus target price of $50.75.
In other Tapestry news, insider Sarah Dunn sold 6,229 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.23, for a total transaction of $300,424.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan J. Kropf sold 6,185 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $50.80, for a total value of $314,198.00. The disclosure for this sale can be found here. Insiders have sold 140,551 shares of company stock worth $7,020,158 in the last quarter. 0.98% of the stock is currently owned by company insiders.
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Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.
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