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

Forum Financial Management LP bought a new stake in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, Holdings Channel reports. The institutional investor bought 5,089 shares of the luxury accessories retailer’s stock, valued at approximately $333,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Tapestry in the 4th quarter valued at approximately $48,000. UMB Bank n.a. boosted its position in Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after buying an additional 496 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Tapestry by 1,792.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock worth $78,000 after buying an additional 1,129 shares during the last quarter. Finally, Atlas Capital Advisors Inc. increased its holdings in shares of Tapestry by 527.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer’s stock worth $83,000 after buying an additional 1,065 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 21,107 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the sale, the chief executive officer now directly owns 176,985 shares of the company’s stock, valued at approximately $14,866,740. This represents a 10.66 % decrease in their position. 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 Tapestry 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 transaction, the chief financial officer now directly owns 146,587 shares in the company, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 in the last quarter. Insiders own 1.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPR. Wells Fargo & Company boosted their price objective on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays lowered their price objective on Tapestry from $100.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Robert W. Baird lifted their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Guggenheim upped their price target on shares of Tapestry from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup cut their price target on shares of Tapestry from $95.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

Tapestry Stock Performance

Shares of Tapestry stock opened at $63.19 on Tuesday. The business has a 50-day simple moving average of $73.80 and a 200 day simple moving average of $65.53. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 2.01 and a beta of 1.37. 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, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same quarter last year, the business earned $1.63 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry’s payout ratio is presently 40.58%.

Tapestry Company 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.