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

Groupama Asset Managment raised its position in Tapestry, Inc. (NYSE:TPR) by 129.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,372 shares of the luxury accessories retailer’s stock after purchasing an additional 6,988 shares during the period. Groupama Asset Managment’s holdings in Tapestry were worth $814,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new stake in Tapestry during the fourth quarter valued at $328,000. Charles Schwab Investment Management Inc. boosted its position in shares of Tapestry by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer’s stock valued at $522,471,000 after acquiring an additional 382,856 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Tapestry during the fourth quarter worth about $3,437,000. Principal Financial Group Inc. increased its position in shares of Tapestry by 14.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer’s stock worth $20,195,000 after purchasing an additional 39,298 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in Tapestry in the fourth quarter valued at approximately $18,737,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TPR shares. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Tapestry from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group increased their price target on shares of Tapestry from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Evercore ISI upped their price objective on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Insider Buying and Selling

In other news, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the sale, the general counsel now owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $681,975.74. Following the completion of 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. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 over the last ninety days. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Up 2.6 %

Shares of NYSE TPR opened at $74.80 on Thursday. The firm has a fifty day simple moving average of $77.63 and a two-hundred day simple moving average of $63.59. Tapestry, Inc. has a 12 month low of $35.23 and a 12 month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $15.48 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its quarterly 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 net margin of 11.74% and a return on equity of 44.00%. During the same period in the prior year, the company earned $1.63 earnings per share. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.87%. Tapestry’s dividend payout ratio is presently 40.58%.

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.