Charles Schwab Investment Management Inc. Increases Stock Holdings in Tapestry, Inc. (NYSE:TPR)

Charles Schwab Investment Management Inc. grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,997,414 shares of the luxury accessories retailer’s stock after purchasing an additional 382,856 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.43% of Tapestry worth $522,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TPR. Victory Capital Management Inc. increased its holdings in Tapestry by 7.5% during the third quarter. Victory Capital Management Inc. now owns 433,825 shares of the luxury accessories retailer’s stock valued at $20,381,000 after buying an additional 30,121 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Tapestry during the 4th quarter valued at $328,000. Valley Wealth Managers Inc. increased 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 worth $19,971,000 after purchasing an additional 8,833 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Tapestry in the 4th quarter worth $3,437,000. Finally, Westfield Capital Management Co. LP lifted its position in Tapestry by 14.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,699,067 shares of the luxury accessories retailer’s stock valued at $79,822,000 after purchasing an additional 219,544 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 3.4 %

Shares of TPR opened at $81.23 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The business’s 50 day simple moving average is $75.49 and its 200-day simple moving average is $59.01.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry’s dividend payout ratio is 40.58%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TPR shares. BMO Capital Markets raised their price objective on Tapestry from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Monday, November 18th. Daiwa America upgraded shares of Tapestry to a “hold” rating in a research note on Monday, November 18th. UBS Group upped their price target on shares of Tapestry from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $72.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Redburn Atlantic upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.53.

Insider Activity

In other news, CFO Scott A. Roe sold 25,727 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $86.56, for a total value of $2,226,929.12. Following the completion of the sale, the chief financial officer now directly owns 146,587 shares of the company’s stock, valued at $12,688,570.72. This trade represents a 14.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

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.