New York State Common Retirement Fund Reduces Holdings in Tapestry, Inc. (NYSE:TPR)

New York State Common Retirement Fund trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 28.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 owned 0.21% of Tapestry worth $31,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of TPR. Charles Schwab Investment Management Inc. boosted its stake in shares of Tapestry by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock valued at $357,732,000 after purchasing an additional 272,007 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock valued at $285,580,000 after purchasing an additional 58,135 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock valued at $262,156,000 after purchasing an additional 80,681 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tapestry by 8.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,618 shares of the luxury accessories retailer’s stock valued at $66,459,000 after purchasing an additional 115,340 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of NYSE TPR opened at $86.65 on Friday. The business’s 50 day moving average price is $72.21 and its 200 day moving average price is $56.14. The firm has a market cap of $17.94 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.07 and a beta of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 last year, the company earned $1.63 EPS. On average, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.62%. Tapestry’s dividend payout ratio is presently 40.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Saturday, February 15th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Robert W. Baird lifted their price objective on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group lifted their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Telsey Advisory Group lifted their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

About Tapestry

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.