3,750 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,750 shares of the luxury accessories retailer's stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Tapestry by 593.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after acquiring an additional 1,875,753 shares during the last quarter. Norges Bank purchased a new position in Tapestry in the fourth quarter worth approximately $114,199,000. Point72 Asset Management L.P. purchased a new position in Tapestry in the fourth quarter worth approximately $101,433,000. Candlestick Capital Management LP purchased a new position in Tapestry in the fourth quarter worth approximately $66,902,000. Finally, Point72 Hong Kong Ltd purchased a new position in Tapestry in the fourth quarter worth approximately $65,751,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Tapestry from $83.00 to $98.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Raymond James restated an "outperform" rating and set a $85.00 price objective (up previously from $74.00) on shares of Tapestry in a research report on Friday, May 9th. Wells Fargo & Company restated an "overweight" rating and set a $100.00 price objective (up previously from $90.00) on shares of Tapestry in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Tapestry from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. 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. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.89.

Tapestry Stock Performance

TPR traded down $2.12 during trading on Friday, hitting $76.87. The stock had a trading volume of 3,937,130 shares, compared to its average volume of 4,241,106. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market capitalization of $15.96 billion, a P/E ratio of 22.28, a PEG ratio of 2.01 and a beta of 1.41. The company's 50-day moving average price is $71.46 and its 200 day moving average price is $70.24. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the company posted $0.81 EPS. Tapestry's revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders 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 dividend yield of 1.82%. Tapestry's dividend payout ratio (DPR) is presently 36.84%.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 1,399 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $81.88, for a total value of $114,550.12. Following the transaction, the vice president now directly owns 40,922 shares in the company, valued at approximately $3,350,693.36. This represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,506 shares of company stock valued at $5,143,538 in the last ninety days. 1.18% of the stock is currently owned by company insiders.

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.