4,341 Shares in Tapestry, Inc. (NYSE:TPR) Acquired by NorthRock Partners LLC

NorthRock Partners LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,341 shares of the luxury accessories retailer’s stock, valued at approximately $284,000.

Several other institutional investors have also recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in shares of Tapestry by 4.8% during 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 last quarter. Charles Schwab Investment Management Inc. grew 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 worth $522,471,000 after acquiring an additional 382,856 shares during the period. Geode Capital Management LLC grew its stake in 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 period. Alliancebernstein L.P. grew its stake in Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer’s stock worth $270,304,000 after acquiring an additional 546,497 shares during the period. Finally, Northern Trust Corp grew its stake in Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer’s stock worth $183,909,000 after acquiring an additional 83,222 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TPR has been the subject of several recent analyst reports. 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 note on Thursday, February 20th. Citigroup lifted their target price on shares of Tapestry from $81.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $100.00 target price (up from $90.00) on shares of Tapestry in a research note on Wednesday. Finally, UBS Group boosted their price objective on shares of Tapestry from $68.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.89.

Tapestry Stock Down 0.6%

Shares of Tapestry stock opened at $82.77 on Friday. The company has a fifty day moving average price of $70.53 and a 200 day moving average price of $69.15. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The stock has a market cap of $17.19 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41.

Tapestry (NYSE:TPR) last announced its quarterly earnings results 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 net margin of 11.74% and a return on equity of 44.00%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 6th will be given 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 1.69%. Tapestry’s dividend payout ratio (DPR) is 36.84%.

Insider Buying and Selling

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 transaction, 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 filing with the SEC, which is available through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the business’s stock in a transaction on Monday, May 12th. The stock was 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 in the company, valued at $3,350,693.36. This represents a 3.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 107,936 shares of company stock valued at $9,101,139. Company insiders own 1.18% of the company’s stock.

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.