Commonwealth Bank of Australia lifted its stake in shares of Tapestry Inc (NYSE:TPR) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,942 shares of the luxury accessories retailer’s stock after purchasing an additional 1,126 shares during the quarter. Commonwealth Bank of Australia’s holdings in Tapestry were worth $1,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Tapestry by 1,484.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,213,009 shares of the luxury accessories retailer’s stock worth $36,000 after purchasing an additional 1,136,452 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of Tapestry during the 4th quarter worth $66,000. Moody National Bank Trust Division lifted its position in shares of Tapestry by 21.2% during the 4th quarter. Moody National Bank Trust Division now owns 2,096 shares of the luxury accessories retailer’s stock worth $70,000 after buying an additional 366 shares during the last quarter. ETF Managers Group LLC lifted its position in shares of Tapestry by 18.0% during the 4th quarter. ETF Managers Group LLC now owns 2,523 shares of the luxury accessories retailer’s stock worth $85,000 after buying an additional 384 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Tapestry during the 4th quarter worth $105,000. 90.06% of the stock is currently owned by institutional investors.

Tapestry stock opened at $32.20 on Friday. The company has a quick ratio of 1.94, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.21 and a beta of 0.73. Tapestry Inc has a 12 month low of $31.91 and a 12 month high of $55.50.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 7th. The luxury accessories retailer reported $1.07 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.04). The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.86 billion. Tapestry had a net margin of 12.18% and a return on equity of 23.84%. Tapestry’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 earnings per share. On average, research analysts anticipate that Tapestry Inc will post 2.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a $0.3375 dividend. The ex-dividend date is Thursday, March 7th. This represents a $1.35 annualized dividend and a yield of 4.19%. Tapestry’s dividend payout ratio is presently 51.33%.

Several brokerages recently weighed in on TPR. Zacks Investment Research downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. TheStreet downgraded Tapestry from a “b-” rating to a “c+” rating in a research report on Thursday, March 7th. ValuEngine downgraded Tapestry from a “sell” rating to a “strong sell” rating in a research report on Thursday. Needham & Company LLC dropped their price objective on Tapestry to $42.00 and set a “buy” rating for the company in a research report on Friday, February 8th. Finally, Oppenheimer dropped their price objective on Tapestry from $65.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $50.00.

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About Tapestry

Tapestry, Inc provides luxury accessories and lifestyle brands in the United States, Japan, China, Hong Kong, Macau, East Asia, Europe, Canada, Taiwan, South Korea, Malaysia, and Singapore. It operates through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers handbags, wallets, money pieces, wristlets and cosmetic cases, key rings, and charms, as well as address books, time management accessories, travel accessories, sketchbooks, and portfolios for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, travel organizers, belts, footwear, watches, sunglasses, novelty accessories, and ready-to-wear for men.

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Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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