Tapestry, Inc. (NYSE:TPR) Stock Position Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,614,558 shares of the luxury accessories retailer's stock after acquiring an additional 272,007 shares during the period. Charles Schwab Investment Management Inc. owned about 3.27% of Tapestry worth $357,732,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Tapestry by 53.1% during the second quarter. Pacer Advisors Inc. now owns 6,020,625 shares of the luxury accessories retailer's stock valued at $257,623,000 after purchasing an additional 2,087,586 shares during the last quarter. AQR Capital Management LLC increased its position in Tapestry by 235.9% in the second quarter. AQR Capital Management LLC now owns 1,497,514 shares of the luxury accessories retailer's stock worth $61,578,000 after buying an additional 1,051,743 shares during the period. Coronation Fund Managers Ltd. lifted its stake in Tapestry by 265.1% in the second quarter. Coronation Fund Managers Ltd. now owns 1,044,641 shares of the luxury accessories retailer's stock valued at $44,700,000 after buying an additional 758,539 shares during the last quarter. Swedbank AB boosted its holdings in shares of Tapestry by 206.5% during the second quarter. Swedbank AB now owns 999,802 shares of the luxury accessories retailer's stock valued at $42,782,000 after acquiring an additional 673,655 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in shares of Tapestry during the first quarter worth about $18,183,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TPR shares. Guggenheim boosted their target price on shares of Tapestry from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, November 15th. UBS Group decreased their price objective on Tapestry from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Friday, August 16th. Bank of America lifted their target price on Tapestry from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Telsey Advisory Group increased their price target on Tapestry from $58.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, November 15th. Finally, Robert W. Baird lifted their price objective on shares of Tapestry from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.78.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 8,872 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.96, for a total value 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. This represents 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. Corporate insiders own 1.18% of the company's stock.

Tapestry Trading Up 4.4 %

Shares of NYSE TPR traded up $2.51 during mid-day trading on Friday, hitting $58.92. 6,946,374 shares of the company traded hands, compared to its average volume of 4,942,443. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 1 year low of $30.20 and a 1 year high of $59.69. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.95 and a beta of 1.53. The business has a 50 day moving average of $48.02 and a two-hundred day moving average of $43.54.

Tapestry Dividend Announcement

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

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.