New York State Teachers Retirement System Lowers Holdings in Tapestry, Inc. (NYSE:TPR)

New York State Teachers Retirement System lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 225,713 shares of the luxury accessories retailer's stock after selling 6,415 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Tapestry worth $14,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TPR. Victory Capital Management Inc. grew its stake in shares of Tapestry by 7.5% in the 3rd quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer's stock worth $20,381,000 after buying an additional 30,121 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Tapestry in the fourth quarter worth $328,000. Assenagon Asset Management S.A. bought a new position in shares of Tapestry during the third quarter valued at $5,446,000. Valley Wealth Managers Inc. raised its position 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 worth $19,971,000 after purchasing an additional 8,833 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Tapestry in the 4th quarter worth about $3,437,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of TPR traded down $1.92 on Friday, reaching $84.60. The company's stock had a trading volume of 3,583,160 shares, compared to its average volume of 5,112,137. The stock's 50 day simple moving average is $72.63 and its two-hundred day simple moving average is $56.48. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The stock has a market capitalization of $17.51 billion, a P/E ratio of 24.52, a PEG ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the firm posted $1.63 EPS. Research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Analyst Ratings Changes

TPR has been the subject of a number of analyst reports. Raymond James restated an "outperform" rating and set a $88.00 price objective (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. BMO Capital Markets raised their price target on shares of Tapestry from $55.00 to $60.00 and gave the company a "market perform" rating in a research report on Monday, November 18th. Telsey Advisory Group upped their price objective on Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Bank of America increased their target price on Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group boosted their price target on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, 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.