Tapestry, Inc. (NYSE:TPR) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its stake in Tapestry, Inc. by 4.2%, now holding approximately 0.14% of the company, valued at $20.59 million.
• Tapestry reported $1.03 earnings per share (EPS) for the last quarter, exceeding analysts' expectations and showing a 6.9% revenue growth year-over-year.
• The company recently declared a quarterly dividend of $0.35 per share, reflecting a yield of 1.3% and a payout ratio of 36.84%.

Natixis Advisors LLC trimmed its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 292,451 shares of the luxury accessories retailer's stock after selling 12,775 shares during the period. Natixis Advisors LLC owned about 0.14% of Tapestry worth $20,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC increased its holdings in Tapestry by 1.5% in the fourth quarter. LPL Financial LLC now owns 122,258 shares of the luxury accessories retailer's stock valued at $7,987,000 after buying an additional 1,791 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Tapestry by 16.5% during the 4th quarter. Franklin Resources Inc. now owns 190,247 shares of the luxury accessories retailer's stock valued at $12,429,000 after acquiring an additional 27,013 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tapestry by 3.2% during the 4th 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 during the last quarter. Atlas Capital Advisors Inc. lifted its stake in Tapestry by 527.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,267 shares of the luxury accessories retailer's stock valued at $83,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Tapestry during the 4th quarter worth $95,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 0.2%

TPR traded down $0.27 during mid-day trading on Tuesday, reaching $111.62. 4,090,258 shares of the stock were exchanged, compared to its average volume of 3,982,717. The stock has a market capitalization of $23.18 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.51. Tapestry, Inc. has a 1 year low of $36.24 and a 1 year high of $112.49. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.22 and a current ratio of 1.76. The company has a 50 day moving average price of $91.71 and a two-hundred day moving average price of $80.64.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The luxury accessories retailer reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. The business 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 51.84% and a net margin of 12.50%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. As a group, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 6th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. Tapestry's dividend payout ratio is presently 36.84%.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of analyst reports. Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Morgan Stanley upped their price target on shares of Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a report on Friday. Barclays reaffirmed an "overweight" rating and set a $105.00 price target (up from $98.00) on shares of Tapestry in a research report on Friday, July 11th. Citigroup increased their price objective on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and an average target price of $99.72.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 40,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was 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 directly owned 116,062 shares in the company, valued at $9,447,446.80. This trade represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Manesh Dadlani sold 1,399 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $81.88, for a total value of $114,550.12. Following the completion of the sale, the vice president directly owned 40,922 shares in the company, valued at approximately $3,350,693.36. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate 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.