BNP Paribas Financial Markets Has $11.78 Million Position in Tapestry, Inc. (NYSE:TPR)

BNP Paribas Financial Markets decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,727 shares of the luxury accessories retailer’s stock after selling 13,785 shares during the period. BNP Paribas Financial Markets owned approximately 0.11% of Tapestry worth $11,779,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TPR. Cetera Investment Advisers raised its holdings in shares of Tapestry by 125.0% in the 1st quarter. Cetera Investment Advisers now owns 53,156 shares of the luxury accessories retailer’s stock worth $2,524,000 after acquiring an additional 29,529 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Tapestry by 110.1% in the first quarter. Cetera Advisors LLC now owns 16,175 shares of the luxury accessories retailer’s stock worth $768,000 after purchasing an additional 8,476 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Tapestry by 75.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 9,642 shares of the luxury accessories retailer’s stock valued at $448,000 after purchasing an additional 4,148 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tapestry by 85.4% during the first quarter. EverSource Wealth Advisors LLC now owns 2,301 shares of the luxury accessories retailer’s stock valued at $109,000 after buying an additional 1,060 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Tapestry by 78.2% during the second quarter. GAMMA Investing LLC now owns 5,815 shares of the luxury accessories retailer’s stock worth $249,000 after buying an additional 2,552 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

Tapestry stock opened at $62.28 on Monday. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38. Tapestry, Inc. has a one year low of $31.37 and a one year high of $62.64. The firm has a market capitalization of $14.51 billion, a P/E ratio of 18.00, a PEG ratio of 2.16 and a beta of 1.53. The business has a fifty day moving average price of $49.84 and a 200-day moving average price of $44.30.

Tapestry Announces Dividend

The business 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 2.25%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s dividend payout ratio is presently 40.46%.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 8,872 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.96, for a total transaction of $514,221.12. Following the sale, the vice president now owns 35,003 shares of the company’s stock, valued at approximately $2,028,773.88. This represents a 20.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TPR shares. Bank of America raised their price objective on Tapestry from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Telsey Advisory Group increased their price objective on shares of Tapestry from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Citigroup boosted their target price on Tapestry from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets increased their price target on Tapestry from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Monday, November 18th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $57.78.

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.