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

SVB Wealth LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,631 shares of the luxury accessories retailer’s stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Checchi Capital Advisers LLC boosted its position in Tapestry by 1.9% during the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock worth $580,000 after purchasing an additional 163 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Tapestry by 0.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock worth $1,261,000 after purchasing an additional 170 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Tapestry by 13.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 182 shares in the last quarter. Valley National Advisers Inc. boosted its position in Tapestry by 0.5% during the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock worth $2,831,000 after purchasing an additional 202 shares in the last quarter. Finally, Redwood Investment Management LLC boosted its position in Tapestry by 0.4% during the third quarter. Redwood Investment Management LLC now owns 47,407 shares of the luxury accessories retailer’s stock worth $2,269,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Daiwa America upgraded Tapestry to a “hold” rating in a research report on Monday, November 18th. UBS Group upped their price objective on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Jefferies Financial Group upped their price objective on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Six 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 has a consensus rating of “Moderate Buy” and an average price target of $78.53.

Insider Activity

In other news, CEO Todd Kahn sold 21,107 shares of the stock in a transaction dated 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 owns 176,985 shares in the company, valued at approximately $14,866,740. This trade represents a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 146,587 shares of the company’s stock, valued at approximately $12,688,570.72. This trade represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $81.12 on Thursday. The firm has a market capitalization of $16.79 billion, a PE ratio of 23.51, a P/E/G ratio of 2.01 and a beta of 1.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The business has a 50-day moving average of $75.49 and a two-hundred day moving average of $59.01. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping 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 last year, the firm earned $1.63 earnings per share. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced 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. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.73%. Tapestry’s dividend payout ratio (DPR) is currently 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.