Kentucky Retirement Systems Has $753,000 Holdings in Tapestry, Inc. (NYSE:TPR)

Kentucky Retirement Systems trimmed its stake in Tapestry, Inc. (NYSE:TPR) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,038 shares of the luxury accessories retailer’s stock after selling 1,277 shares during the period. Kentucky Retirement Systems’ holdings in Tapestry were worth $753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPR. Pacer Advisors Inc. grew its position in Tapestry by 53.1% in the 2nd quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer’s stock worth $257,623,000 after purchasing an additional 2,087,586 shares during the last quarter. AQR Capital Management LLC grew its position in Tapestry by 235.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer’s stock worth $61,578,000 after purchasing an additional 1,051,743 shares during the last quarter. Coronation Fund Managers Ltd. grew its position in Tapestry by 265.1% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer’s stock worth $44,700,000 after purchasing an additional 758,539 shares during the last quarter. Swedbank AB grew its position in Tapestry by 206.5% in the 2nd quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer’s stock worth $42,782,000 after purchasing an additional 673,655 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Tapestry by 8.5% during the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer’s stock worth $296,212,000 after acquiring an additional 489,933 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction that occurred 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 sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.18% of the company’s stock.

Tapestry Trading Down 1.6 %

Shares of NYSE TPR opened at $55.62 on Wednesday. Tapestry, Inc. has a 1-year low of $30.19 and a 1-year high of $58.49. The company has a market cap of $12.96 billion, a PE ratio of 16.08, a P/E/G ratio of 1.98 and a beta of 1.53. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. The company has a 50-day moving average of $47.14 and a two-hundred day moving average of $43.23.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TPR shares. Raymond James reaffirmed an “outperform” rating and set a $57.00 price objective (up from $55.00) on shares of Tapestry in a report on Friday, November 8th. Evercore ISI raised their price objective on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on shares of Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup raised their price objective on shares of Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their price objective on shares of Tapestry from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

About Tapestry

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.