Teacher Retirement System of Texas Has $5.19 Million Stock Position in Tapestry, Inc. (NYSE:TPR)

Teacher Retirement System of Texas lessened its stake in Tapestry, Inc. (NYSE:TPR) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,417 shares of the luxury accessories retailer’s stock after selling 19,996 shares during the quarter. Teacher Retirement System of Texas’ holdings in Tapestry were worth $5,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Erste Asset Management GmbH acquired a new stake in Tapestry in the third quarter valued at $64,016,000. WT Asset Management Ltd acquired a new stake in Tapestry in the 4th quarter valued at about $42,762,000. Raymond James Financial Inc. bought a new position in Tapestry during the fourth quarter worth about $38,180,000. Bank of Montreal Can increased its position in Tapestry by 76.6% during the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock worth $59,641,000 after buying an additional 539,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 buying an additional 382,856 shares during the period. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, February 18th. Barclays lifted their target price on shares of Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Telsey Advisory Group upped their price target on shares of Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.53.

Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of Tapestry stock in a transaction that occurred 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 directly 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 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 stock in a transaction that occurred on 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 completion of the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, 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. In the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. Insiders own 1.18% of the company’s stock.

Tapestry Stock Up 0.1 %

Shares of NYSE TPR opened at $72.99 on Monday. The stock has a market capitalization of $15.11 billion, a P/E ratio of 21.16, a PEG ratio of 2.01 and a beta of 1.57. The stock’s fifty day moving average is $77.17 and its 200 day moving average is $61.96. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week 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) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating 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 period in the previous year, the firm posted $1.63 earnings per share. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

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 issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is presently 40.58%.

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.