Northern Trust Corp Increases Position in Tapestry, Inc. (NYSE:TPR)

Northern Trust Corp lifted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,815,081 shares of the luxury accessories retailer's stock after buying an additional 83,222 shares during the period. Northern Trust Corp owned about 1.36% of Tapestry worth $183,909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Apollon Wealth Management LLC bought a new stake in Tapestry in the 4th quarter valued at approximately $328,000. Charles Schwab Investment Management Inc. increased its stake in Tapestry by 5.0% in 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 buying an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in Tapestry during the 4th quarter worth about $3,437,000. Abacus FCF Advisors LLC boosted its stake in shares of Tapestry by 46.2% during the 4th quarter. Abacus FCF Advisors LLC now owns 45,487 shares of the luxury accessories retailer's stock worth $2,972,000 after buying an additional 14,384 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Tapestry by 14.6% in the 4th quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock valued at $20,195,000 after acquiring an additional 39,298 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Transactions at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares in the company, valued at $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company's stock, valued at $12,688,570.72. This represents 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 quarter. 1.18% of the stock is currently owned by company insiders.

Tapestry Stock Up 3.2 %

Tapestry stock traded up $2.26 during trading hours on Friday, hitting $72.75. The stock had a trading volume of 4,502,648 shares, compared to its average volume of 4,177,925. The stock's 50-day moving average price is $70.64 and its 200-day moving average price is $67.03. Tapestry, Inc. has a 12-month low of $35.23 and a 12-month high of $90.85. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $15.06 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results 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 quarter in the prior year, the firm posted $1.63 EPS. Equities research analysts anticipate 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 was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TPR. Guggenheim boosted their price objective on shares of Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Barclays reduced their target price on Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group raised their price target on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Robert W. Baird upped their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company cut their target price on shares of Tapestry from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.47.

About Tapestry

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.