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

New York State Common Retirement Fund grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 81.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 761,859 shares of the luxury accessories retailer’s stock after purchasing an additional 342,621 shares during the quarter. New York State Common Retirement Fund owned approximately 0.33% of Tapestry worth $28,044,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TPR. FDx Advisors Inc. grew its holdings in shares of Tapestry by 34.5% during the third quarter. FDx Advisors Inc. now owns 8,735 shares of the luxury accessories retailer’s stock worth $251,000 after buying an additional 2,240 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Tapestry by 9.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 285,989 shares of the luxury accessories retailer’s stock worth $10,527,000 after buying an additional 23,532 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Tapestry during the fourth quarter worth about $1,107,000. Assenagon Asset Management S.A. grew its holdings in shares of Tapestry by 189.5% during the third quarter. Assenagon Asset Management S.A. now owns 228,045 shares of the luxury accessories retailer’s stock worth $6,556,000 after buying an additional 149,268 shares during the last quarter. Finally, FCF Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter worth about $1,013,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TPR shares. Evercore ISI upgraded shares of Tapestry from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $50.00 in a research report on Monday, February 5th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Thursday, February 29th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $54.00 price target on shares of Tapestry in a research report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.81.

Tapestry Stock Down 1.6 %

TPR stock opened at $39.39 on Friday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 9.95, a PEG ratio of 0.82 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a 50 day moving average price of $45.16 and a two-hundred day moving average price of $37.84.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping the consensus estimate of $1.46 by $0.17. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Tapestry had a net margin of 13.80% and a return on equity of 41.75%. Tapestry’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.23 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.55%. Tapestry’s dividend payout ratio is presently 35.35%.

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.