4,631 Shares in Tapestry, Inc. (NYSE:TPR) Bought by SVB Wealth LLC

SVB Wealth LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 4,631 shares of the luxury accessories retailer's stock, valued at approximately $303,000.

Several other hedge funds have also modified their holdings of TPR. Charles Schwab Investment Management Inc. grew its stake in Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer's stock valued at $357,732,000 after purchasing an additional 272,007 shares in the last quarter. Pacer Advisors Inc. grew its stake in Tapestry by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer's stock valued at $285,580,000 after purchasing an additional 58,135 shares in the last quarter. Geode Capital Management LLC grew its stake in Tapestry by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer's stock valued at $262,156,000 after purchasing an additional 80,681 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Tapestry by 16.4% during the 4th quarter. Allianz Asset Management GmbH now owns 2,121,469 shares of the luxury accessories retailer's stock valued at $138,596,000 after purchasing an additional 298,409 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Tapestry by 14.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer's stock valued at $79,822,000 after purchasing an additional 219,544 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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Tapestry Stock Performance

Tapestry stock traded down $2.72 during mid-day trading on Friday, hitting $75.00. 7,520,384 shares of the company's stock traded hands, compared to its average volume of 5,197,207. The firm has a 50 day moving average price of $76.22 and a 200 day moving average price of $59.67. 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 company has a market cap of $15.53 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company posted $1.63 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

Analysts Set New Price Targets

Several research analysts have recently commented on TPR shares. Daiwa America upgraded Tapestry to a "hold" rating in a research report on Monday, November 18th. Jefferies Financial Group lifted their target price on Tapestry from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. BMO Capital Markets lifted their target price on Tapestry from $55.00 to $60.00 and gave the stock a "market perform" rating in a research report on Monday, November 18th. Robert W. Baird lifted their target price on Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Barclays lifted their target price on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.53.

Insider Transactions at Tapestry

In other news, CFO Scott A. Roe sold 25,727 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the sale, the chief financial officer now owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Kahn sold 21,107 shares of the business's 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 in the company, valued at $14,866,740. This represents a 10.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,537 shares of company stock valued at $5,730,589. Corporate insiders own 1.18% of the company's stock.

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.