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

Charles Schwab Investment Management Inc. grew its holdings in Tapestry, Inc. (NYSE:TPR) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,614,558 shares of the luxury accessories retailer’s stock after purchasing an additional 272,007 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.27% of Tapestry worth $357,732,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TPR. Waldron Private Wealth LLC purchased a new stake in shares of Tapestry during the third quarter worth about $25,000. Massmutual Trust Co. FSB ADV raised its holdings in Tapestry by 54.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 935 shares of the luxury accessories retailer’s stock valued at $40,000 after acquiring an additional 328 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Tapestry by 111.9% during the 2nd quarter. Blue Trust Inc. now owns 1,053 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 556 shares during the period. MUFG Securities EMEA plc boosted its holdings in shares of Tapestry by 34.9% during the second quarter. MUFG Securities EMEA plc now owns 1,226 shares of the luxury accessories retailer’s stock worth $52,000 after purchasing an additional 317 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in shares of Tapestry in the second quarter valued at $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR opened at $58.92 on Friday. The company has a market capitalization of $13.73 billion, a P/E ratio of 17.03, a PEG ratio of 1.92 and a beta of 1.53. The company has a 50-day moving average of $48.02 and a 200-day moving average of $43.54. The company has a debt-to-equity ratio of 2.35, a quick ratio of 4.38 and a current ratio of 4.93. Tapestry, Inc. has a 1-year low of $30.20 and a 1-year high of $59.69.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TPR has been the topic of a number of research analyst reports. Barclays reissued an “equal weight” rating and issued a $57.00 price target on shares of Tapestry in a research note on Wednesday. Guggenheim lifted their target price on Tapestry from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price target on Tapestry from $51.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Evercore ISI increased their target price on shares of Tapestry from $47.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Eight 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 a consensus price target of $57.78.

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.