Axa S.A. Has $618,000 Stock Holdings in Tapestry, Inc. (NYSE:TPR)

AXA S.A. reduced its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 80.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,462 shares of the luxury accessories retailer's stock after selling 39,563 shares during the period. AXA S.A.'s holdings in Tapestry were worth $618,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TPR. Franklin Resources Inc. increased its position in shares of Tapestry by 10.6% during the third quarter. Franklin Resources Inc. now owns 163,234 shares of the luxury accessories retailer's stock valued at $7,442,000 after purchasing an additional 15,585 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Tapestry by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 71,845 shares of the luxury accessories retailer's stock valued at $4,694,000 after purchasing an additional 898 shares during the period. Czech National Bank increased its position in shares of Tapestry by 7.7% during the fourth quarter. Czech National Bank now owns 50,527 shares of the luxury accessories retailer's stock valued at $3,301,000 after purchasing an additional 3,629 shares during the period. Reinhart Partners LLC. bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $5,969,000. Finally, Wedmont Private Capital bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $253,000. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Up 5.8%

Tapestry stock traded up $4.55 during midday trading on Monday, reaching $82.56. The stock had a trading volume of 5,627,283 shares, compared to its average volume of 4,222,506. The firm's fifty day simple moving average is $69.78 and its 200-day simple moving average is $68.34. Tapestry, Inc. has a 1-year low of $35.23 and a 1-year high of $90.85. The stock has a market capitalization of $17.09 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.14. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.53 billion. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. The business's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.70%. Tapestry's dividend payout ratio is 36.84%.

Insider Buying and Selling at Tapestry

In other news, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the transaction, the general counsel now directly 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 40,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $81.40, for a total value of $3,256,000.00. Following the completion of the transaction, the chief executive officer now directly owns 116,062 shares in the company, valued at approximately $9,447,446.80. This represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,537 shares of company stock worth $8,986,589 over the last ninety days. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TPR has been the topic of a number of analyst reports. Morgan Stanley upgraded Tapestry from an "equal weight" rating to an "overweight" rating and set a $90.00 price target on the stock in a research report on Thursday. Barclays upped their price target on Tapestry from $83.00 to $98.00 and gave the company an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Citigroup upped their price target on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research report on Friday. Finally, UBS Group increased their target price on Tapestry from $68.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.06.

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.