Natixis Advisors LLC Has $14.42 Million Holdings in Tapestry, Inc. (NYSE:TPR)

Natixis Advisors LLC reduced its stake in Tapestry, Inc. (NYSE:TPR) by 41.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,929 shares of the luxury accessories retailer’s stock after selling 221,503 shares during the period. Natixis Advisors LLC owned 0.13% of Tapestry worth $14,420,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Valley Wealth Managers Inc. boosted its stake in shares of Tapestry by 2.1% in the 3rd quarter. Valley Wealth Managers Inc. now owns 425,105 shares of the luxury accessories retailer’s stock valued at $19,971,000 after purchasing an additional 8,833 shares during the last quarter. Empowered Funds LLC raised its stake in Tapestry by 972.6% in the 3rd quarter. Empowered Funds LLC now owns 203,491 shares of the luxury accessories retailer’s stock valued at $9,560,000 after acquiring an additional 184,519 shares during the period. CIBC Asset Management Inc boosted its holdings in Tapestry by 8.2% in the 3rd quarter. CIBC Asset Management Inc now owns 32,325 shares of the luxury accessories retailer’s stock worth $1,519,000 after buying an additional 2,448 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Tapestry by 3.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,520 shares of the luxury accessories retailer’s stock valued at $353,000 after purchasing an additional 218 shares during the period. Finally, ING Groep NV grew its stake in Tapestry by 84.3% in the 3rd quarter. ING Groep NV now owns 57,652 shares of the luxury accessories retailer’s stock worth $2,708,000 after buying an additional 26,371 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 0.6 %

NYSE:TPR opened at $55.30 on Thursday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. The firm has a market capitalization of $12.89 billion, a P/E ratio of 15.98, a PEG ratio of 1.98 and a beta of 1.53. The company’s 50-day simple moving average is $47.41 and its 200 day simple moving average is $43.32. Tapestry, Inc. has a one year low of $30.20 and a one year high of $58.49.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

Analyst Upgrades and Downgrades

TPR has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Tapestry from $58.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Evercore ISI boosted their price objective on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. TD Cowen downgraded Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Tuesday, October 29th. Bank of America increased their price target on shares of Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their target price on Tapestry from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.78.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.96, for a total value of $514,221.12. Following the sale, the vice president now directly owns 35,003 shares in the company, valued at approximately $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

About Tapestry

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.