Natixis Advisors LLC Raises Stake in Tapestry, Inc. (NYSE:TPR)

Natixis Advisors LLC raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 43.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 528,432 shares of the luxury accessories retailer's stock after purchasing an additional 159,358 shares during the period. Natixis Advisors LLC owned 0.23% of Tapestry worth $22,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors lifted its position in shares of Tapestry by 8.5% during the 1st quarter. Capital Research Global Investors now owns 6,238,670 shares of the luxury accessories retailer's stock worth $296,212,000 after buying an additional 489,933 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Tapestry by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 5,954,829 shares of the luxury accessories retailer's stock worth $219,197,000 after purchasing an additional 54,647 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tapestry by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,305,257 shares of the luxury accessories retailer's stock worth $121,671,000 after purchasing an additional 140,347 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Tapestry in the 4th quarter valued at about $102,531,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Tapestry by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer's stock valued at $116,928,000 after purchasing an additional 46,760 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPR has been the topic of a number of research reports. Bernstein Bank raised their target price on shares of Tapestry from $46.00 to $48.00 in a research report on Thursday, May 9th. Wells Fargo & Company lowered their price target on Tapestry from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Citigroup reduced their price objective on Tapestry from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. StockNews.com upgraded Tapestry from a "hold" rating to a "buy" rating in a research note on Wednesday, August 7th. Finally, Argus restated a "buy" rating and set a $52.00 price objective on shares of Tapestry in a research report on Tuesday, June 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

Tapestry Price Performance

Shares of NYSE:TPR traded down $0.38 during trading on Wednesday, hitting $41.19. 3,695,534 shares of the stock were exchanged, compared to its average volume of 3,311,007. Tapestry, Inc. has a 12-month low of $25.99 and a 12-month high of $48.80. The company has a market cap of $9.46 billion, a PE ratio of 10.90, a P/E/G ratio of 1.52 and a beta of 1.59. The company has a fifty day moving average price of $40.46 and a two-hundred day moving average price of $42.43. The company has a current ratio of 5.14, a quick ratio of 4.66 and a debt-to-equity ratio of 2.39.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 37.22% and a net margin of 12.23%. Tapestry's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. On average, analysts forecast that Tapestry, Inc. will post 4.47 EPS for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, September 6th. Tapestry's dividend payout ratio (DPR) is presently 37.04%.

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.