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

Forum Financial Management LP acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,089 shares of the luxury accessories retailer's stock, valued at approximately $333,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 period. Geode Capital Management LLC increased its stake in Tapestry by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock worth $376,247,000 after purchasing an additional 176,717 shares during the period. Alliancebernstein L.P. lifted its position in shares of Tapestry by 15.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after purchasing an additional 546,497 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Tapestry by 16.4% in the fourth 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 during the period. Finally, Norges Bank acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $114,199,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPR has been the subject of several recent research reports. Raymond James reissued an "outperform" rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Guggenheim lifted their target price on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 7th. Morgan Stanley restated an "equal weight" rating and set a $65.00 price target on shares of Tapestry in a report on Tuesday, January 21st. StockNews.com cut Tapestry from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Telsey Advisory Group upped their target price on shares of Tapestry from $74.00 to $83.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.26.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $84.00, for a total value of $1,772,988.00. Following the sale, the chief executive officer now owns 176,985 shares of the company's stock, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by insiders.

Tapestry Stock Performance

NYSE:TPR traded up $0.52 during mid-day trading on Friday, reaching $68.82. 3,186,479 shares of the stock were exchanged, compared to its average volume of 4,170,908. The stock has a market capitalization of $14.25 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a 50 day simple moving average of $72.56 and a 200-day simple moving average of $65.68. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 1.78.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 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 period in the previous year, the business posted $1.63 EPS. Analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio is presently 40.58%.

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.