DGS Capital Management LLC Buys Shares of 3,915 Tapestry, Inc. (NYSE:TPR)

DGS Capital Management LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, HoldingsChannel reports. The fund purchased 3,915 shares of the luxury accessories retailer’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new position in Tapestry during the third quarter worth about $25,000. Brooklyn Investment Group bought a new position in shares of Tapestry during the 3rd quarter valued at about $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Tapestry during the 2nd quarter valued at about $68,000. Deseret Mutual Benefit Administrators increased its stake in Tapestry by 68.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after purchasing an additional 605 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. increased its stake in Tapestry by 159,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 1.4 %

Shares of NYSE:TPR opened at $74.63 on Friday. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $75.78. 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 company has a market capitalization of $17.39 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. The company has a 50-day simple moving average of $64.82 and a 200 day simple moving average of $51.06.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a $0.35 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.88%. Tapestry’s payout ratio is 40.46%.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 8,872 shares of the firm’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 completion of the sale, the vice president now owns 35,003 shares in the company, valued at approximately $2,028,773.88. This trade represents a 20.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TPR. Bank of America upped their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI increased their target price on Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Raymond James restated an “outperform” rating and issued a $57.00 price target (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a report on Tuesday, October 29th. Finally, Citigroup boosted their target price on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $64.78.

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.