Amundi Has $23.63 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Amundi cut its holdings in Tapestry, Inc. (NYSE:TPR) by 36.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,773 shares of the luxury accessories retailer’s stock after selling 199,920 shares during the period. Amundi owned about 0.15% of Tapestry worth $23,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Tapestry in the third quarter valued at approximately $47,000. UMB Bank n.a. raised its holdings in shares of Tapestry by 72.9% in the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 182 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Tapestry by 159,100.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock valued at $75,000 after buying an additional 1,591 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TPR. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $88.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on shares of Tapestry from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Redburn Atlantic raised shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $65.00 target price on shares of Tapestry in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 21,107 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total value of $1,772,988.00. Following the completion of the transaction, the chief executive officer now owns 176,985 shares of the company’s stock, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David E. Howard sold 11,917 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at approximately $3,397,592. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 over the last quarter. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Down 2.9 %

TPR opened at $69.61 on Friday. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.85. 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 company has a market capitalization of $14.41 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.01 and a beta of 1.57. The stock has a fifty day moving average of $76.57 and a 200-day moving average of $60.30.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 prior year, the company earned $1.63 earnings per share. On average, equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Thursday, March 6th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, March 6th. Tapestry’s dividend payout ratio (DPR) 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.