Natixis Advisors LLC Reduces Position in Tapestry, Inc. (NYSE:TPR)

Natixis Advisors LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 305,226 shares of the luxury accessories retailer’s stock after selling 1,703 shares during the period. Natixis Advisors LLC owned 0.13% of Tapestry worth $19,940,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TPR. Checchi Capital Advisers LLC grew its position in shares of Tapestry by 1.9% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,878 shares of the luxury accessories retailer’s stock valued at $580,000 after purchasing an additional 163 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Tapestry by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,303 shares of the luxury accessories retailer’s stock valued at $1,261,000 after purchasing an additional 170 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 182 shares during the period. E Fund Management Co. Ltd. grew its position in shares of Tapestry by 1.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,744 shares of the luxury accessories retailer’s stock valued at $833,000 after purchasing an additional 200 shares during the period. Finally, Valley National Advisers Inc. grew its position in shares of Tapestry by 0.5% in the fourth quarter. Valley National Advisers Inc. now owns 43,355 shares of the luxury accessories retailer’s stock valued at $2,831,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 0.3 %

Shares of TPR opened at $70.99 on Wednesday. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The stock has a market cap of $14.70 billion, a PE ratio of 20.58, a P/E/G ratio of 2.01 and a beta of 1.57. 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 stock’s 50-day moving average is $76.87 and its two-hundred day moving average is $61.29.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $1.63 EPS. Equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s payout ratio is 40.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James reaffirmed an “outperform” rating and issued a $88.00 price objective (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their target price on Tapestry from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group lifted their target price on Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group lifted their target price on Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average target price of $78.53.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 7,786 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares of the company’s stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated 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 completion of the sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by insiders.

Tapestry 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.