Strs Ohio Has $16.56 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Strs Ohio lessened its position in Tapestry, Inc. (NYSE:TPR) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 450,000 shares of the luxury accessories retailer’s stock after selling 37,518 shares during the quarter. Strs Ohio’s holdings in Tapestry were worth $16,564,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPR. Advisor Partners II LLC increased its position in shares of Tapestry by 3.0% during the 1st quarter. Advisor Partners II LLC now owns 8,043 shares of the luxury accessories retailer’s stock worth $347,000 after purchasing an additional 237 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of Tapestry by 5.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,463 shares of the luxury accessories retailer’s stock worth $157,000 after purchasing an additional 297 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Tapestry by 0.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 109,837 shares of the luxury accessories retailer’s stock worth $3,158,000 after acquiring an additional 353 shares during the period. Sowell Financial Services LLC boosted its stake in shares of Tapestry by 2.1% during the 3rd quarter. Sowell Financial Services LLC now owns 18,348 shares of the luxury accessories retailer’s stock worth $527,000 after acquiring an additional 381 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Tapestry by 25.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,940 shares of the luxury accessories retailer’s stock worth $73,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $40.87 on Wednesday. The stock has a fifty day moving average price of $45.56 and a 200-day moving average price of $37.38. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.84 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry, Inc. has a fifty-two week low of $25.99 and a fifty-two week high of $48.80.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.25 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.43%. Tapestry’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TPR shares. Raymond James lifted their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Wells Fargo & Company lifted their target price on Tapestry from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $50.00 in a research note on Monday, February 5th. The Goldman Sachs Group lifted their target price on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $47.81.

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.