Although the precise date in May 1886 is not noted in the presentation inscription, it is likely that the icon was given to the Tsarevich on - or in celebration of - his eighteenth birthday on 18/6 May, given that the form follows that of a traditional 'birth icon' with the patron saint of the recipient depicted on the central panel and those of the parents on the wings. The Tsarevich spent much of that month in Moscow, attending parties and functions.
For a very similar example, also by Khlebnikov, presented to Emperor Alexander III and Empress Maria Feodorovna in honour of their coronation in 1883 by the nobility of the Vladimir region and now in the Hermitage, please see T. S. Kharinkina (ed.), Imperator Aleksandr III, Imperatritsa Maria Feodorovna, St. Petersburg, 2006, cat. no. 871, p. 127, illustrated.