Teacher Retirement System of Texas Has $5.19 Million Stake in Tapestry, Inc. (NYSE:TPR)

Teacher Retirement System of Texas lowered its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 20.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 79,417 shares of the luxury accessories retailer's stock after selling 19,996 shares during the quarter. Teacher Retirement System of Texas' holdings in Tapestry were worth $5,188,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Venturi Wealth Management LLC lifted its holdings 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 valued at $38,000 after acquiring an additional 252 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Tapestry during the 3rd quarter valued at about $47,000. Transamerica Financial Advisors Inc. boosted its stake in shares of Tapestry by 159,100.0% in the third 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 period. UMB Bank n.a. grew its holdings in Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer's stock valued at $77,000 after purchasing an additional 496 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in Tapestry during the 3rd quarter worth $83,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TPR shares. Morgan Stanley restated an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Barclays upped their target price on Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Jefferies Financial Group upped their price target on shares of Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their target price on Tapestry from $75.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average target price of $78.53.

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Tapestry Trading Down 1.2 %

Shares of TPR traded down $0.90 during midday trading on Thursday, hitting $72.78. The stock had a trading volume of 2,470,751 shares, compared to its average volume of 3,822,697. The business has a 50-day simple moving average of $77.61 and a two-hundred day simple moving average of $62.52. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market cap of $15.07 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates 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 prior year, the business posted $1.63 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 40.58%.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 7,786 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the transaction, the chief executive officer now owns 201,531 shares in the company, valued at approximately $17,652,100.29. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now owns 38,609 shares of the company's stock, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,537 shares of company stock worth $5,730,589. Corporate insiders own 1.18% of the company's stock.

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.