4,129 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Evercore Wealth Management LLC

Evercore Wealth Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,129 shares of the luxury accessories retailer's stock, valued at approximately $270,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Apollon Wealth Management LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Tapestry by 5.0% in the fourth 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 purchasing an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $3,437,000. Principal Financial Group Inc. raised its holdings in shares of Tapestry by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after purchasing an additional 39,298 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $18,737,000. Institutional investors own 90.77% of the company's stock.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 7,786 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company's stock, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the sale, the chief financial officer now directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock valued at $5,730,589 over the last three months. 1.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Guggenheim upped their price target on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Evercore ISI raised their target price on shares of Tapestry from $68.00 to $74.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Telsey Advisory Group raised their target price on shares of Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price of $78.26.

Tapestry Price Performance

Shares of NYSE TPR traded down $0.01 during midday trading on Tuesday, reaching $69.25. The company's stock had a trading volume of 876,160 shares, compared to its average volume of 5,731,493. The business's 50 day moving average price is $71.75 and its two-hundred day moving average price is $66.31. The company has a market cap of $14.34 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period in the previous year, the business earned $1.63 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. Tapestry's dividend payout ratio (DPR) is 40.58%.

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.