Treasurer of the State of North Carolina Has $7.07 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Treasurer of the State of North Carolina increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,243 shares of the luxury accessories retailer’s stock after purchasing an additional 8,180 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Tapestry were worth $7,072,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new position in shares of Tapestry during the 4th quarter worth about $328,000. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after purchasing an additional 382,856 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in shares of Tapestry during the 4th quarter worth approximately $3,437,000. Principal Financial Group Inc. raised its stake in shares of Tapestry by 14.6% during the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after purchasing an additional 39,298 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Tapestry in the 4th quarter valued at approximately $18,737,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Telsey Advisory Group boosted their price target on Tapestry from $74.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Robert W. Baird raised their price objective on Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Evercore ISI boosted their target price on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.63.

Tapestry Stock Down 0.8 %

Shares of TPR opened at $63.40 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $13.13 billion, a PE ratio of 18.38, a P/E/G ratio of 2.01 and a beta of 1.37. The firm’s 50 day moving average is $75.82 and its 200-day moving average is $64.82. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 quarter last year, the firm posted $1.63 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 2.21%. Tapestry’s dividend payout ratio is 40.58%.

Insiders Place Their Bets

In other news, CFO Scott A. Roe sold 25,727 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company’s stock, valued at approximately $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 over the last ninety days. Corporate insiders own 1.18% of the company’s stock.

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.