Ingalls & Snyder LLC Takes $214,000 Position in Tapestry, Inc. (NYSE:TPR)

Ingalls & Snyder LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,563 shares of the luxury accessories retailer’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TPR. Waldron Private Wealth LLC bought a new stake in shares of Tapestry during the third quarter valued at about $25,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Tapestry by 54.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after purchasing an additional 328 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Tapestry during the third quarter valued at about $47,000. Blue Trust Inc. raised its stake in shares of Tapestry by 111.9% during the second quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after purchasing an additional 556 shares in the last quarter. Finally, MUFG Securities EMEA plc raised its stake in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock valued at $52,000 after purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of recent analyst reports. UBS Group cut their price objective on shares of Tapestry from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Tuesday, October 29th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research report on Monday, November 18th. Raymond James reiterated an “outperform” rating and issued a $57.00 price target (up from $55.00) on shares of Tapestry in a research report on Friday, November 8th. Finally, Bank of America boosted their price target 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. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.78.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total transaction of $514,221.12. Following the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Tapestry Trading Down 0.8 %

NYSE:TPR opened at $63.83 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 fifty-two week low of $32.20 and a fifty-two week high of $65.30. The stock’s 50-day moving average is $50.63 and its two-hundred day moving average is $44.62. The stock has a market cap of $14.87 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.24 and a beta of 1.60.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.19%. Tapestry’s dividend payout ratio (DPR) is presently 40.46%.

About Tapestry

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.