Pacer Advisors Inc. Purchases 58,135 Shares of Tapestry, Inc. (NYSE:TPR)

Pacer Advisors Inc. raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 1.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,078,760 shares of the luxury accessories retailer’s stock after purchasing an additional 58,135 shares during the period. Pacer Advisors Inc.’s holdings in Tapestry were worth $285,580,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TPR. AQR Capital Management LLC increased its position in shares of Tapestry by 235.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock valued at $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Tapestry by 265.1% during the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock worth $44,700,000 after acquiring an additional 758,539 shares in the last quarter. Swedbank AB lifted its holdings in shares of Tapestry by 206.5% in the 2nd quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer’s stock worth $42,782,000 after acquiring an additional 673,655 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Tapestry by 8.5% in the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock worth $296,212,000 after acquiring an additional 489,933 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Tapestry in the 1st quarter valued at $18,183,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR stock opened at $55.30 on Thursday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry, Inc. has a 1 year low of $30.20 and a 1 year high of $58.49. The firm has a 50-day moving average of $47.41 and a 200 day moving average of $43.32. The company has a market cap of $12.89 billion, a P/E ratio of 15.98, a PEG ratio of 1.92 and a beta of 1.53.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s payout ratio is presently 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 dated Friday, November 15th. The shares were 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 in the company, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TPR has been the topic of a number of analyst reports. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Robert W. Baird lifted their price objective on Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Telsey Advisory Group increased their target price on Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their price target on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Guggenheim boosted their price objective on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.78.

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.