Tapestry, Inc. (NYSE:TPR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 28.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,011 shares of the luxury accessories retailer’s stock after selling 189,521 shares during the quarter. New York State Common Retirement Fund’s holdings in Tapestry were worth $31,555,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TPR. Waldron Private Wealth LLC acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $25,000. Venturi Wealth Management LLC raised its stake in shares of Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the period. Brooklyn Investment Group acquired a new position in shares of Tapestry during the 3rd quarter worth approximately $47,000. Deseret Mutual Benefit Administrators raised its stake in Tapestry by 68.2% in the 3rd 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 during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after purchasing an additional 1,591 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

Shares of TPR opened at $86.65 on Friday. The stock has a 50-day simple moving average of $72.21 and a 200-day simple moving average of $56.14. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a market capitalization of $17.94 billion, a PE ratio of 25.12, a PEG ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the firm posted $1.63 earnings per share. On average, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Wall Street Analyst Weigh In

TPR has been the subject of several recent research reports. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Jefferies Financial Group increased their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Wells Fargo & Company increased their price objective on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays increased their price objective on Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their price objective on Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.53.

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.