Teachers Retirement System of The State of Kentucky Has $20.65 Million Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 10.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 482,578 shares of the luxury accessories retailer’s stock after purchasing an additional 46,000 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.21% of Tapestry worth $20,650,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPR. Steward Partners Investment Advisory LLC boosted its stake in shares of Tapestry by 49.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 12,491 shares of the luxury accessories retailer’s stock worth $460,000 after acquiring an additional 4,138 shares during the period. TD Asset Management Inc boosted its position in Tapestry by 16.8% during the fourth quarter. TD Asset Management Inc now owns 119,306 shares of the luxury accessories retailer’s stock worth $4,392,000 after purchasing an additional 17,122 shares during the period. Stifel Financial Corp boosted its position in Tapestry by 33.0% during the fourth quarter. Stifel Financial Corp now owns 152,611 shares of the luxury accessories retailer’s stock worth $5,618,000 after purchasing an additional 37,828 shares during the period. KBC Group NV acquired a new position in shares of Tapestry in the fourth quarter valued at $144,000. Finally, Jones Financial Companies Lllp raised its position in shares of Tapestry by 48.2% in the fourth quarter. Jones Financial Companies Lllp now owns 3,310 shares of the luxury accessories retailer’s stock valued at $122,000 after purchasing an additional 1,077 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research reports. Argus reiterated a “buy” rating and issued a $52.00 price target on shares of Tapestry in a research note on Tuesday, June 18th. Evercore ISI lowered their target price on Tapestry from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on Tapestry from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Tapestry in a report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their target price on Tapestry from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.07.

Tapestry Trading Down 1.4 %

Shares of Tapestry stock opened at $46.31 on Wednesday. The company has a quick ratio of 4.66, a current ratio of 5.14 and a debt-to-equity ratio of 2.39. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.64 and a beta of 1.54. The firm’s 50-day moving average price is $41.15 and its two-hundred day moving average price is $41.91.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. Tapestry had a net margin of 12.23% and a return on equity of 37.22%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $0.95 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts forecast that Tapestry, Inc. will post 4.47 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, September 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.02%. Tapestry’s dividend payout ratio (DPR) is currently 37.04%.

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.