State of Alaska Department of Revenue lowered its holdings in  Tapestry, Inc. (NYSE:TPR) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,160 shares of the luxury accessories retailer's stock after selling 980 shares during the period. State of Alaska Department of Revenue's holdings in Tapestry were worth $1,103,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. American Trust bought a new stake in  Tapestry in the 1st quarter valued at about $244,000.  Teachers Retirement System of The State of Kentucky raised its position in shares of  Tapestry by 33.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 745,196 shares of the luxury accessories retailer's stock valued at $27,684,000 after buying an additional 187,096 shares in the last quarter.  Mirae Asset Global Investments Co. Ltd. raised its position in shares of  Tapestry by 31.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,235 shares of the luxury accessories retailer's stock valued at $2,275,000 after buying an additional 14,759 shares in the last quarter.  Walleye Capital LLC acquired a new position in shares of  Tapestry in the 1st quarter valued at approximately $3,690,000.  Finally, Toroso Investments LLC raised its position in shares of  Tapestry by 10.6% in the 1st quarter. Toroso Investments LLC now owns 10,055 shares of the luxury accessories retailer's stock valued at $374,000 after buying an additional 966 shares in the last quarter. Institutional investors own  90.77% of the company's stock.

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Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 2,005 shares of the firm's stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.81, for a total transaction of $73,804.05. Following the completion of the transaction, the vice president now owns 33,681 shares in the company, valued at approximately $1,239,797.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tapestry news, VP Manesh Dadlani sold 2,005 shares of Tapestry stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.81, for a total value of $73,804.05. Following the completion of the sale, the vice president now directly owns 33,681 shares of the company's stock, valued at $1,239,797.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas A. Glaser sold 39,503 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $35.38, for a total transaction of $1,397,616.14. Following the transaction, the insider now directly owns 243,321 shares in the company, valued at approximately $8,608,696.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,110 shares of company stock worth $1,677,854. 0.73% of the stock is currently owned by insiders.

Tapestry Stock Up 1.4 %

NYSE:TPR opened at $29.03 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.75 and a quick ratio of 1.08. Tapestry, Inc. has a one year low of $26.39 and a one year high of $47.05. The firm's 50 day simple moving average is $34.20 and its 200 day simple moving average is $33.64. The company has a market cap of $7.00 billion, a PE ratio of 9.19, a P/E/G ratio of 0.62 and a beta of 1.32.

Tapestry (NYSE:TPR – Get Rating) last released its quarterly earnings results on Thursday, August 18th. The luxury accessories retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Tapestry had a net margin of 12.81% and a return on equity of 34.37%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business earned $0.74 EPS. The company's revenue was up .6% compared to the same quarter last year.  On average, research analysts anticipate that  Tapestry, Inc. will post 3.85 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were issued a dividend of $0.30 per share. This is a positive change from Tapestry's previous quarterly dividend of $0.25. The ex-dividend date of this dividend  was Thursday, September 8th. This represents a $1.20 annualized dividend and a yield of 4.13%. Tapestry's dividend payout ratio (DPR) is presently 37.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPR. Wells Fargo & Company dropped their target price on shares of Tapestry from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, July 7th. The Goldman Sachs Group dropped their target price on shares of Tapestry from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, July 21st. Barclays lifted their price target on shares of Tapestry from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, August 22nd. Morgan Stanley decreased their price target on shares of Tapestry from $40.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, August 19th. Finally, Robert W. Baird lifted their price target on shares of Tapestry to $45.00 in a report on Monday, August 22nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned  a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.44.

Tapestry Company Profile

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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 accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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