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

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 18.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 59,608 shares of the luxury accessories retailer's stock after acquiring an additional 9,433 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Tapestry were worth $3,894,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TPR. Venturi Wealth Management LLC grew its stake in shares of Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after purchasing an additional 252 shares during the last quarter. Brooklyn Investment Group bought a new stake in Tapestry in the third quarter worth approximately $47,000. Transamerica Financial Advisors Inc. lifted its stake in shares of 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 valued at $75,000 after purchasing an additional 1,591 shares during the last quarter. UMB Bank n.a. increased 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 acquiring an additional 496 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in Tapestry in the 3rd quarter valued at $83,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of Tapestry stock traded up $2.52 during trading hours on Wednesday, reaching $73.49. The company had a trading volume of 4,519,059 shares, compared to its average volume of 5,325,039. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market cap of $15.21 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.57. Tapestry, Inc. has a one year low of $35.23 and a one year high of $90.85. The business has a fifty day simple moving average of $76.87 and a 200 day simple moving average of $61.29.

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Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the prior year, the firm earned $1.63 EPS. On average, analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, March 6th. Tapestry's payout ratio is 40.58%.

Insider Activity

In other Tapestry news, 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 value of $2,226,929.12. Following the completion of the sale, the chief financial officer now owns 146,587 shares of the company's stock, valued at $12,688,570.72. This represents a 14.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Kahn sold 7,786 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the sale, the chief executive officer now directly owns 201,531 shares of the company's stock, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,537 shares of company stock worth $5,730,589. 1.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TPR has been the topic of several research analyst reports. Redburn Atlantic upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Tuesday, February 18th. Guggenheim increased their price objective on Tapestry from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Barclays lifted their target price on shares of Tapestry from $87.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price objective on Tapestry from $72.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.53.

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.