GSA Capital Partners LLP Invests $237,000 in Tapestry, Inc. (NYSE:TPR)

GSA Capital Partners LLP bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,045 shares of the luxury accessories retailer’s stock, valued at approximately $237,000.

A number of other hedge funds have also made changes to their positions in TPR. Waldron Private Wealth LLC bought a new position in shares of Tapestry during the third quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV increased its stake in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock worth $40,000 after purchasing an additional 328 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Tapestry by 111.9% in the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock valued at $50,000 after acquiring an additional 556 shares in the last quarter. MUFG Securities EMEA plc lifted its stake in Tapestry by 34.9% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after acquiring an additional 317 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Tapestry in the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TPR. Guggenheim raised their target price on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company raised their target price on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their price target on Tapestry from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Raymond James reaffirmed an “outperform” rating and set a $57.00 price target (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Finally, Evercore ISI lifted their target price on Tapestry from $47.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.78.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. This represents a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.18% of the company’s stock.

Tapestry Price Performance

TPR stock opened at $58.92 on Monday. The company’s 50-day moving average price is $48.02 and its two-hundred day moving average price is $43.61. Tapestry, Inc. has a 12 month low of $30.20 and a 12 month high of $59.69. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. The firm has a market cap of $13.73 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.95 and a beta of 1.53.

Tapestry Dividend Announcement

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 given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

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.