Tapestry, Inc. (NYSE:TPR) Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its stake in Tapestry, Inc. (NYSE:TPR) by 1.2% in the fourth quarter, Holdings Channel reports. The firm owned 19,954 shares of the luxury accessories retailer’s stock after purchasing an additional 230 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Tapestry were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Tapestry by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after purchasing an additional 272,007 shares in the last quarter. Pacer Advisors Inc. raised its position in Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after buying an additional 58,135 shares during the last quarter. Geode Capital Management LLC raised its position in Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock worth $262,156,000 after buying an additional 80,681 shares during the last quarter. Allianz Asset Management GmbH raised its position in Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer’s stock worth $138,596,000 after buying an additional 298,409 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock worth $79,822,000 after buying an additional 219,544 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of NYSE TPR opened at $85.38 on Friday. The firm has a market cap of $17.67 billion, a PE ratio of 24.75, a PEG ratio of 2.01 and a beta of 1.58. The firm has a fifty day moving average of $74.79 and a 200 day moving average of $58.26. 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, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.64%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPR. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, February 18th. Evercore ISI raised their price target on shares of Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price target on shares of Tapestry in a research report on Tuesday, January 21st. BMO Capital Markets raised their price target on shares of Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research report on Monday, November 18th. Finally, Guggenheim lifted their target price on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Insiders Place Their Bets

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. The trade was a 14.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 in the last 90 days. 1.18% of the stock is owned by insiders.

About Tapestry

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.