Tapestry, Inc. (NYSE:TPR) Shares Bought by Crestline Management LP

Crestline Management LP boosted its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,755 shares of the luxury accessories retailer's stock after acquiring an additional 8,393 shares during the quarter. Crestline Management LP's holdings in Tapestry were worth $3,512,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its stake in shares of Tapestry by 4.8% in the fourth quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after purchasing an additional 370,784 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock valued at $522,471,000 after acquiring an additional 382,856 shares during the period. Geode Capital Management LLC grew its holdings in shares of Tapestry by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after acquiring an additional 176,717 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the period. Finally, Northern Trust Corp increased its stake in Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock valued at $183,909,000 after purchasing an additional 83,222 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Activity

In related news, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 21,107 shares of the 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 completion of the transaction, the chief executive officer now directly owns 176,985 shares of the company's stock, valued at $14,866,740. This represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,537 shares of company stock valued at $5,730,589. Company insiders own 1.18% of the company's stock.

Tapestry Trading Up 0.6 %

NYSE:TPR traded up $0.46 during trading hours on Friday, reaching $78.00. 4,311,696 shares of the company were exchanged, compared to its average volume of 4,214,406. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The stock has a 50 day simple moving average of $69.75 and a 200 day simple moving average of $67.78. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.01 and a beta of 1.41. 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 (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, June 6th. Tapestry's payout ratio is currently 40.58%.

Analyst Ratings Changes

TPR has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 target price for the company in a report on Thursday. Barclays reduced their price target on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Robert W. Baird raised their price objective on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price on the stock in a research note on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $82.22.

Tapestry 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.