Natixis Has $940,000 Holdings in Tapestry, Inc. (NYSE:TPR)

Natixis grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 62.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,788 shares of the luxury accessories retailer’s stock after acquiring an additional 7,593 shares during the period. Natixis’ holdings in Tapestry were worth $940,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Tapestry in the first quarter valued at approximately $35,000. BNP Paribas acquired a new stake in shares of Tapestry in the first quarter valued at approximately $38,000. EverSource Wealth Advisors LLC raised its position in shares of Tapestry by 3,778.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,241 shares of the luxury accessories retailer’s stock valued at $46,000 after buying an additional 1,209 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Tapestry by 334.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer’s stock valued at $55,000 after buying an additional 1,158 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Tapestry by 130.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,500 shares of the luxury accessories retailer’s stock valued at $55,000 after buying an additional 848 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $54.00 price target on shares of Tapestry in a research report on Thursday, May 9th. Argus reiterated a “buy” rating and issued a $52.00 price target on shares of Tapestry in a research report on Tuesday, June 18th. StockNews.com upgraded shares of Tapestry from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. OTR Global reissued a “mixed” rating on shares of Tapestry in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Tapestry from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $48.06.

Tapestry Price Performance

Shares of NYSE TPR traded up $0.92 during midday trading on Friday, reaching $40.57. 245,604 shares of the company were exchanged, compared to its average volume of 3,320,977. The stock’s 50-day moving average price is $42.05 and its 200-day moving average price is $42.39. The stock has a market cap of $9.32 billion, a P/E ratio of 10.49, a PEG ratio of 0.81 and a beta of 1.59. Tapestry, Inc. has a one year low of $25.99 and a one year high of $48.80. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Tapestry had a net margin of 13.15% and a return on equity of 39.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.24 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were paid a $0.35 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 3.45%. Tapestry’s dividend payout ratio is 37.04%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 2,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $42.23, for a total value of $105,575.00. Following the sale, the vice president now owns 37,173 shares of the company’s stock, valued at $1,569,815.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.93% of the stock is currently owned by insiders.

Tapestry Company 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.