Louisiana State Employees Retirement System Has $817,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Louisiana State Employees Retirement System lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,500 shares of the luxury accessories retailer’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Tapestry were worth $817,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waldron Private Wealth LLC acquired a new stake in Tapestry during the third quarter valued at $25,000. Brooklyn Investment Group acquired a new stake in Tapestry during the third quarter valued at $47,000. UMB Bank n.a. boosted its position in Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock valued at $70,000 after purchasing an additional 605 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its position in Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 1.5 %

Shares of TPR opened at $88.99 on Wednesday. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a quick ratio of 4.38, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $20.74 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 2.30 and a beta of 1.58. The stock’s 50-day moving average price is $71.17 and its 200 day moving average price is $55.70.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $1.63 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.7 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 1.57%. Tapestry’s dividend payout ratio is 40.58%.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of research reports. Morgan Stanley reissued an “equal weight” rating and set a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Telsey Advisory Group raised their target price on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. UBS Group raised their target price on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Bank of America raised their target price on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Raymond James restated an “outperform” rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.63.

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.