Zurcher Kantonalbank Zurich Cantonalbank Acquires 9,433 Shares of Tapestry, Inc. (NYSE:TPR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,608 shares of the luxury accessories retailer’s stock after purchasing an additional 9,433 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tapestry were worth $3,894,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in shares of Tapestry by 78.0% during the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock valued at $38,000 after buying an additional 252 shares during the last quarter. Brooklyn Investment Group purchased a new position in Tapestry during the third quarter valued at $47,000. Transamerica Financial Advisors Inc. lifted its stake in Tapestry by 159,100.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after purchasing an additional 1,591 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Tapestry by 72.9% during the 4th quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock valued at $77,000 after purchasing an additional 496 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of Tapestry during the third quarter valued at about $83,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Up 1.1 %

NYSE:TPR opened at $70.48 on Friday. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a twelve month low of $35.23 and a twelve month high of $90.85. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The stock has a fifty day simple moving average of $76.73 and a 200-day simple moving average of $60.72.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 last year, the business posted $1.63 earnings per share. Analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.99%. Tapestry’s payout ratio is currently 40.58%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TPR shares. Evercore ISI increased their price target on Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Raymond James reissued an “outperform” rating and issued a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday, February 7th. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Barclays increased their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.53.

Insider Buying and Selling at Tapestry

In related news, General Counsel David E. Howard sold 11,917 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares of the company’s stock, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Roe sold 25,727 shares of the company’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 transaction 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. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,537 shares of company stock valued at $5,730,589 in the last ninety days. Corporate insiders own 1.18% of the company’s stock.

Tapestry 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.