Tapestry, Inc. (NYSE:TPR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 8.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,607 shares of the luxury accessories retailer’s stock after selling 8,368 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tapestry were worth $4,210,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Redwood Investment Management LLC grew its holdings in shares of Tapestry by 0.4% in the 3rd quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after acquiring an additional 204 shares during the last quarter. Lebenthal Global Advisors LLC raised its holdings in Tapestry by 2.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 7,813 shares of the luxury accessories retailer’s stock worth $367,000 after buying an additional 215 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Tapestry by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock worth $353,000 after buying an additional 218 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Tapestry by 1.6% during the third quarter. Summit Trail Advisors LLC now owns 16,273 shares of the luxury accessories retailer’s stock valued at $765,000 after acquiring an additional 251 shares during the period. Finally, Legend Financial Advisors Inc. lifted its position in shares of Tapestry by 1.9% in the 2nd quarter. Legend Financial Advisors Inc. now owns 13,570 shares of the luxury accessories retailer’s stock valued at $581,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Tapestry from $58.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Barclays reaffirmed an “equal weight” rating and set a $57.00 target price on shares of Tapestry in a research note on Wednesday, November 20th. Evercore ISI increased their price target on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Tapestry from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $58.94.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the completion of the transaction, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.18% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $63.20 on Friday. The firm has a market cap of $14.73 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.80 and a beta of 1.60. The stock’s 50-day moving average is $53.20 and its two-hundred day moving average is $45.75. Tapestry, Inc. has a fifty-two week low of $35.06 and a fifty-two week high of $65.30. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.35 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.40 annualized dividend and a yield of 2.22%. Tapestry’s dividend payout ratio (DPR) is currently 40.46%.

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.