New Mexico Educational Retirement Board Sells 300 Shares of Tapestry, Inc. (NYSE:TPR)

New Mexico Educational Retirement Board lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,948 shares of the luxury accessories retailer’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Tapestry were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Waldron Private Wealth LLC purchased a new position in shares of Tapestry during the 3rd quarter valued at $25,000. Brooklyn Investment Group purchased a new position in Tapestry during the third quarter worth about $47,000. Deseret Mutual Benefit Administrators increased its stake in Tapestry by 68.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the last quarter. Transamerica Financial Advisors Inc. raised its holdings in shares of Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after acquiring an additional 1,591 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of 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 acquiring an additional 496 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of TPR opened at $88.99 on Wednesday. The company has a market capitalization of $20.74 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average of $71.17 and a 200 day moving average of $55.70.

Tapestry (NYSE:TPR) last posted 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 return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is presently 40.58%.

Analysts Set New Price Targets

TPR has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price 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. Telsey Advisory Group raised their price target on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Daiwa America upgraded Tapestry to a “hold” rating in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $76.63.

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.