5,089 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Forum Financial Management LP

Forum Financial Management LP acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,089 shares of the luxury accessories retailer's stock, valued at approximately $333,000.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after purchasing an additional 370,784 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 in the last quarter. Geode Capital Management LLC increased its stake 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 last quarter. Alliancebernstein L.P. increased its position in Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after purchasing an additional 546,497 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Tapestry by 3.0% during 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 buying an additional 83,222 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.88, for a total transaction of $114,550.12. Following the completion of the transaction, the vice president now owns 40,922 shares of the company's stock, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 40,000 shares of Tapestry stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.40, for a total transaction of $3,256,000.00. Following the completion of the transaction, the chief executive officer now owns 116,062 shares in the company, valued at approximately $9,447,446.80. This trade represents a 25.63% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Tapestry Price Performance

Shares of NYSE TPR traded up $0.03 during trading on Friday, hitting $78.47. 2,869,991 shares of the company were exchanged, compared to its average volume of 4,262,147. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a market cap of $16.30 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 2.01 and a beta of 1.41. The firm's fifty day moving average price is $71.96 and its 200 day moving average price is $71.20. 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 posted its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 EPS 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 business posted $0.81 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 annualized dividend and a yield of 1.78%. Tapestry's payout ratio is currently 36.84%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley upgraded shares of Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target on the stock in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. UBS Group increased their target price on Tapestry from $68.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $92.00 price target on shares of Tapestry in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.89.

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.