Oregon Public Employees Retirement Fund Buys 230 Shares of Tapestry, Inc. (NYSE:TPR)

Oregon Public Employees Retirement Fund increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,954 shares of the luxury accessories retailer’s stock after acquiring an additional 230 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Tapestry were worth $1,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPR. Venturi Wealth Management LLC boosted its position in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after acquiring an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new position in Tapestry during the third quarter valued at $47,000. Deseret Mutual Benefit Administrators lifted 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. Transamerica Financial Advisors Inc. lifted 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. Finally, UMB Bank n.a. lifted 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. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 21,107 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now directly owns 176,985 shares in the company, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock worth $5,730,589 in the last three months. Corporate insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TPR. UBS Group increased their price objective on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays increased their price objective on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. The Goldman Sachs Group increased their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Trading Up 1.3 %

TPR stock opened at $85.38 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The firm’s 50-day moving average is $74.79 and its 200 day moving average is $58.26. The company has a market capitalization of $17.67 billion, a PE ratio of 24.75, a P/E/G ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last issued 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 business posted $1.63 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current 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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

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.