Charles Schwab Investment Management Inc. Acquires 30,341 Shares of Tapestry, Inc. (NYSE:TPR)

Charles Schwab Investment Management Inc. boosted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,972,221 shares of the luxury accessories retailer's stock after acquiring an additional 30,341 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.86% of Tapestry worth $72,597,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc lifted its holdings in Tapestry by 718.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 949 shares of the luxury accessories retailer's stock worth $27,000 after buying an additional 833 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in Tapestry by 35.1% in the third quarter. AllSquare Wealth Management LLC now owns 1,627 shares of the luxury accessories retailer's stock valued at $47,000 after purchasing an additional 423 shares during the period. Parkside Financial Bank & Trust increased its holdings in Tapestry by 56.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,843 shares of the luxury accessories retailer's stock worth $53,000 after purchasing an additional 668 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Tapestry by 334.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,504 shares of the luxury accessories retailer's stock valued at $55,000 after buying an additional 1,158 shares during the period. Finally, Allworth Financial LP grew its position in shares of Tapestry by 62.0% during the fourth quarter. Allworth Financial LP now owns 1,620 shares of the luxury accessories retailer's stock worth $60,000 after buying an additional 620 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE:TPR traded up $0.56 during trading hours on Wednesday, reaching $42.67. 3,602,744 shares of the stock were exchanged, compared to its average volume of 3,843,573. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a quick ratio of 5.98, a current ratio of 6.59 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $9.80 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.85 and a beta of 1.61. The firm has a 50 day simple moving average of $43.17 and a 200-day simple moving average of $39.10.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The luxury accessories retailer reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. Tapestry had a return on equity of 39.78% and a net margin of 13.15%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.22 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, June 7th. Tapestry's dividend payout ratio is 37.04%.

Analyst Ratings Changes

Several brokerages recently weighed in on TPR. Robert W. Baird reduced their target price on shares of Tapestry from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 10th. The Goldman Sachs Group increased their target price on Tapestry from $41.00 to $47.00 and gave the company a "buy" rating in a report on Friday, February 9th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $54.00 price target on shares of Tapestry in a report on Thursday, May 9th. JPMorgan Chase & Co. dropped their price objective on Tapestry from $56.00 to $54.00 and set an "overweight" rating on the stock in a report on Friday, May 10th. Finally, Wells Fargo & Company raised their price objective on shares of Tapestry from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, February 2nd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.71.

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.