Public Employees Retirement System of Ohio Has $5.57 Million Stake in Tapestry, Inc. (NYSE:TPR)

Public Employees Retirement System of Ohio trimmed its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,204 shares of the luxury accessories retailer's stock after selling 4,403 shares during the period. Public Employees Retirement System of Ohio's holdings in Tapestry were worth $5,566,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Greenline Partners LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC raised its holdings in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the period. Venturi Wealth Management LLC raised its holdings in Tapestry by 78.0% during the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after buying an additional 252 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Tapestry during the 4th quarter worth approximately $48,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Tapestry by 1,792.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock worth $78,000 after buying an additional 1,129 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the transaction, the vice president now owns 40,922 shares in the company, valued at approximately $3,350,693.36. This trade represents a 3.31% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TPR shares. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. The Goldman Sachs Group lifted their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. UBS Group lifted their price target on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Wells Fargo & Company reissued an "overweight" rating and issued a $100.00 target price (up previously from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Finally, Citigroup lifted their target price on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.89.

Tapestry Stock Up 0.1%

TPR traded up $0.08 during trading on Monday, reaching $78.63. 2,611,483 shares of the stock were exchanged, compared to its average volume of 4,255,545. The stock has a market cap of $16.33 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The stock's 50 day moving average price is $72.06 and its two-hundred day moving average price is $71.44. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.53 billion. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. Tapestry's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 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 1.78%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's payout ratio is presently 36.84%.

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.