NorthRock Partners LLC Invests $284,000 in Tapestry, Inc. (NYSE:TPR)

NorthRock Partners LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,341 shares of the luxury accessories retailer's stock, valued at approximately $284,000.

Other large investors also recently bought and sold shares of the company. Apollon Wealth Management LLC bought a new stake in shares of Tapestry in the 4th quarter worth about $328,000. Charles Schwab Investment Management Inc. grew its position in 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 worth $522,471,000 after acquiring an additional 382,856 shares in the last quarter. Abacus FCF Advisors LLC increased its stake in Tapestry by 46.2% during the fourth quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer's stock worth $2,972,000 after acquiring an additional 14,384 shares during the last quarter. Principal Financial Group Inc. raised its position in Tapestry by 14.6% during 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 period. Finally, Pzena Investment Management LLC bought a new stake in Tapestry in the fourth quarter worth $18,737,000. Institutional investors own 90.77% of the company's stock.

Insiders Place Their Bets

In related news, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the completion of the transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the sale, the chief executive officer now owns 116,062 shares in the company, valued at $9,447,446.80. The trade was a 25.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,936 shares of company stock valued at $9,101,139. Insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

TPR has been the subject of several analyst reports. Evercore ISI raised their price objective on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Telsey Advisory Group restated an "outperform" rating and set a $92.00 price objective on shares of Tapestry in a report on Friday, May 9th. Redburn Atlantic upgraded 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. The Goldman Sachs Group lifted their target price on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group raised their price target on shares of Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $83.89.

Tapestry Stock Down 3.3%

Shares of TPR stock traded down $2.72 during mid-day trading on Wednesday, hitting $79.80. 3,794,561 shares of the stock traded hands, compared to its average volume of 4,217,429. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The stock has a market cap of $16.57 billion, a P/E ratio of 23.13, a P/E/G ratio of 2.01 and a beta of 1.41. The stock's fifty day moving average is $71.00 and its two-hundred day moving average is $69.63. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the firm earned $0.81 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.75%. Tapestry's payout ratio is 36.84%.

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.