Groupama Asset Managment Acquires 6,988 Shares of Tapestry, Inc. (NYSE:TPR)

Groupama Asset Managment grew its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 129.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,372 shares of the luxury accessories retailer's stock after acquiring an additional 6,988 shares during the period. Groupama Asset Managment's holdings in Tapestry were worth $814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Trexquant Investment LP increased its holdings in Tapestry by 155.5% in the 4th quarter. Trexquant Investment LP now owns 105,740 shares of the luxury accessories retailer's stock valued at $6,908,000 after purchasing an additional 64,359 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,765,596 shares of the luxury accessories retailer's stock valued at $376,247,000 after buying an additional 176,717 shares in the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Tapestry by 12.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,691 shares of the luxury accessories retailer's stock valued at $372,000 after buying an additional 646 shares during the period. Franklin Resources Inc. lifted its position in Tapestry by 16.5% during the 4th quarter. Franklin Resources Inc. now owns 190,247 shares of the luxury accessories retailer's stock worth $12,429,000 after acquiring an additional 27,013 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Tapestry by 15.2% in the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock worth $270,304,000 after acquiring an additional 546,497 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

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Tapestry Stock Down 0.5 %

Shares of Tapestry stock traded down $0.32 during trading on Monday, hitting $62.62. 3,327,855 shares of the stock traded hands, compared to its average volume of 4,056,734. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The stock has a market cap of $12.96 billion, a P/E ratio of 18.07, a PEG ratio of 2.01 and a beta of 1.37. The company has a fifty day moving average price of $77.22 and a two-hundred day moving average price of $64.02. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85.

Tapestry (NYSE:TPR - Get Free Report) 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 in the previous year, the company earned $1.63 earnings per share. Equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's payout ratio is presently 40.58%.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of recent research reports. Morgan Stanley reissued an "equal weight" rating and set a $65.00 target price on shares of Tapestry in a research report on Tuesday, January 21st. Jefferies Financial Group raised their target price on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. StockNews.com raised shares of Tapestry from a "hold" rating to a "buy" rating in a report on Monday, March 31st. Raymond James reiterated an "outperform" rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a research report on Friday, February 7th. Finally, Wells Fargo & Company upped their price target on Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $78.53.

Insiders Place Their Bets

In other Tapestry news, CFO Scott A. Roe sold 25,727 shares of the business's 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 transaction, the chief financial officer now directly owns 146,587 shares of the company's stock, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the 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 transaction, the chief executive officer now owns 201,531 shares of the company's stock, valued at approximately $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by company 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.