Groupama Asset Managment Has $814,000 Stock Position in Tapestry, Inc. (NYSE:TPR)

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

Several other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after buying an additional 252 shares during the last quarter. UMB Bank n.a. raised its position in shares of Tapestry by 72.9% in the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Tapestry by 1,792.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer’s stock valued at $78,000 after purchasing an additional 1,129 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Tapestry by 21.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,598 shares of the luxury accessories retailer’s stock valued at $104,000 after purchasing an additional 287 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Tapestry by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,586 shares of the luxury accessories retailer’s stock worth $104,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated 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 directly owns 38,609 shares of the company’s stock, valued at $3,397,592. This represents a 23.59 % 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, CFO Scott A. Roe sold 25,727 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $86.56, for a total transaction of $2,226,929.12. Following the transaction, the chief financial officer now owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock worth $5,730,589 in the last quarter. Insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $74.80 on Thursday. The stock has a 50 day moving average of $77.63 and a 200 day moving average of $63.59. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.01 and a beta of 1.57. 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.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS 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 previous year, the business posted $1.63 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TPR shares. The Goldman Sachs Group raised their price objective on shares of Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Robert W. Baird upped their price objective on shares of Tapestry from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Evercore ISI raised their target price on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Raymond James reaffirmed an “outperform” rating and set a $88.00 price target (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Finally, Telsey Advisory Group raised their price objective on Tapestry from $74.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $78.53.

Tapestry Company 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.