GAMMA Investing LLC Has $493,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

GAMMA Investing LLC grew its stake in Tapestry, Inc. (NYSE:TPR) by 23.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,544 shares of the luxury accessories retailer’s stock after purchasing an additional 1,449 shares during the quarter. GAMMA Investing LLC’s holdings in Tapestry were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Waldron Private Wealth LLC bought a new position in Tapestry during the third quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in shares of Tapestry in the 3rd quarter valued at approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tapestry during the 2nd quarter worth approximately $68,000. Abich Financial Wealth Management LLC acquired a new position in Tapestry during the second quarter valued at approximately $69,000. Finally, Deseret Mutual Benefit Administrators increased its stake in Tapestry by 68.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TPR. Robert W. Baird boosted their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Telsey Advisory Group increased their price target on Tapestry from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Wells Fargo & Company raised their price target on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. TD Cowen lowered Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group raised their target price on shares of Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.24.

Tapestry Stock Up 1.7 %

Tapestry stock opened at $66.77 on Monday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The company’s 50-day moving average is $59.08 and its 200-day moving average is $48.11. The firm has a market capitalization of $15.56 billion, a PE ratio of 19.30, a P/E/G ratio of 1.80 and a beta of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $67.40.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 2.10%. Tapestry’s dividend payout ratio is currently 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 on Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the transaction, the vice president now directly owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by insiders.

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.