DGS Capital Management LLC Buys New Holdings in Tapestry, Inc. (NYSE:TPR)

DGS Capital Management LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,915 shares of the luxury accessories retailer’s stock, valued at approximately $256,000.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Tapestry by 7.5% during the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock worth $20,381,000 after acquiring an additional 30,121 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Tapestry during the third quarter valued at approximately $5,446,000. Valley Wealth Managers Inc. grew its stake in shares of Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after purchasing an additional 8,833 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Tapestry by 14.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after buying an additional 219,544 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Tapestry during the 4th quarter worth approximately $3,437,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Up 1.4 %

Shares of NYSE TPR opened at $74.63 on Friday. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $75.78. The firm’s 50-day moving average is $64.82 and its 200-day moving average is $51.06. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $17.39 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58.

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction on Friday, November 15th. The stock was 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 directly owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TPR shares. Guggenheim upped their price target on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. Raymond James reaffirmed an “outperform” rating and set a $57.00 price objective (up from $55.00) on shares of Tapestry in a research note on Friday, November 8th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group upgraded Tapestry from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $80.00 in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.78.

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.