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

Strs Ohio trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,000 shares of the luxury accessories retailer’s stock after selling 37,518 shares during the quarter. Strs Ohio owned approximately 0.20% of Tapestry worth $16,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TPR. Brown Brothers Harriman & Co. lifted its holdings in shares of Tapestry by 340.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 661 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new stake in shares of Tapestry during the 3rd quarter valued at about $26,000. Bell Investment Advisors Inc lifted its holdings in Tapestry by 718.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer’s stock worth $27,000 after purchasing an additional 833 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Tapestry by 955.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,098 shares of the luxury accessories retailer’s stock worth $41,000 after purchasing an additional 994 shares during the last quarter. Finally, Quarry LP lifted its holdings in Tapestry by 100.8% in the 2nd quarter. Quarry LP now owns 968 shares of the luxury accessories retailer’s stock worth $41,000 after purchasing an additional 127,311 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

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

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

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.40 annualized dividend and a yield of 3.43%. Tapestry’s dividend payout ratio is currently 35.35%.

Analyst Ratings Changes

TPR has been the subject of several analyst reports. TheStreet upgraded Tapestry from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Raymond James boosted their target price on Tapestry from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. The Goldman Sachs Group boosted their target price on Tapestry from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Evercore ISI upgraded Tapestry from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $50.00 in a report on Monday, February 5th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $54.00 target price on shares of Tapestry in a report on Wednesday, March 27th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.81.

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.