Townsquare Capital LLC Increases Holdings in Tapestry, Inc. (NYSE:TPR)

Townsquare Capital LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,162 shares of the luxury accessories retailer’s stock after acquiring an additional 1,526 shares during the quarter. Townsquare Capital LLC’s holdings in Tapestry were worth $524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in Tapestry during the second quarter worth $3,718,000. Victory Capital Management Inc. increased its stake in Tapestry by 7.5% during the third 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 last quarter. Fiera Capital Corp increased its stake in Tapestry by 1.2% during the second quarter. Fiera Capital Corp now owns 1,462,721 shares of the luxury accessories retailer’s stock worth $62,590,000 after acquiring an additional 17,497 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Tapestry during the third quarter worth $5,446,000. Finally, Valley Wealth Managers Inc. increased its stake in Tapestry by 2.1% during the third quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock worth $19,971,000 after acquiring an additional 8,833 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the business’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 sale, the vice president now directly owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is owned by company insiders.

Tapestry Stock Down 0.8 %

Shares of NYSE TPR opened at $63.83 on Thursday. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.60. 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 business has a 50-day moving average of $50.63 and a two-hundred day moving average of $44.62. Tapestry, Inc. has a 1 year low of $32.20 and a 1 year high of $65.30.

Tapestry Dividend Announcement

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

Analyst Ratings Changes

TPR has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Tapestry from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on Tapestry from $51.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Raymond James reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $55.00) on shares of Tapestry in a research note on Friday, November 8th. Barclays reaffirmed an “equal weight” rating and issued a $57.00 price objective on shares of Tapestry in a research note on Wednesday, November 20th. Finally, StockNews.com cut Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $57.78.

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.