Schwab Charles Investment Management Inc. Invests $49.82 Million in Tapestry Inc (TPR)

Schwab Charles Investment Management Inc. purchased a new stake in shares of Tapestry Inc (NYSE:TPR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,126,403 shares of the luxury accessories retailer’s stock, valued at approximately $49,821,000. Schwab Charles Investment Management Inc. owned approximately 0.40% of Tapestry as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TPR. Hexavest Inc. bought a new stake in Tapestry in the 4th quarter worth about $106,000. M&R Capital Management Inc. purchased a new stake in shares of Tapestry during the 3rd quarter valued at approximately $153,000. LMR Partners LLP purchased a new stake in shares of Tapestry during the 3rd quarter valued at approximately $229,000. City Holding Co. purchased a new stake in Tapestry in the 4th quarter worth approximately $333,000. Finally, Oak Point Wealth Management purchased a new stake in Tapestry in the 4th quarter worth approximately $469,000. 87.97% of the stock is currently owned by institutional investors.

In other Tapestry news, CAO Todd Kahn sold 4,357 shares of Tapestry stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.13, for a total value of $214,059.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sarah Dunn sold 6,229 shares of Tapestry stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $48.23, for a total transaction of $300,424.67. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

TPR has been the topic of several recent analyst reports. TheStreet upgraded shares of Tapestry from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded shares of Tapestry from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, January 8th. Canaccord Genuity set a $58.00 price target on shares of Tapestry and gave the stock a “buy” rating in a report on Sunday, January 7th. Robert W. Baird set a $50.00 price target on shares of Tapestry and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, William Blair reissued a “buy” rating on shares of Tapestry in a report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.23.

Tapestry Inc (TPR) traded up $0.53 during trading hours on Wednesday, hitting $50.67. 1,502,018 shares of the stock traded hands, compared to its average volume of 3,072,441. Tapestry Inc has a 12-month low of $37.53 and a 12-month high of $50.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.51 and a current ratio of 1.90. The stock has a market cap of $14,218.48, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.73 and a beta of 0.59.

Tapestry (NYSE:TPR) last posted its earnings results on Tuesday, February 6th. The luxury accessories retailer reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Tapestry had a net margin of 6.14% and a return on equity of 23.68%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the company posted $0.75 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. equities research analysts expect that Tapestry Inc will post 2.56 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/14/schwab-charles-investment-management-inc-acquires-shares-of-1126403-tapestry-inc-tpr.html.

Tapestry Company Profile

Tapestry, Inc, formerly Coach, Inc, is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. The Company’s brands include Coach, Kate Spade, and Stuart Weitzman. Its segments include North America, International and Stuart Weitzman.

Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply