Zurcher Kantonalbank Zurich Cantonalbank Has $1.85 Million Position in Tapestry, Inc. (NYSE:TPR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tapestry, Inc. (NYSE:TPR) by 11.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 50,148 shares of the luxury accessories retailer’s stock after purchasing an additional 5,292 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tapestry were worth $1,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. CWM LLC increased its stake in shares of Tapestry by 44.2% in the third quarter. CWM LLC now owns 28,002 shares of the luxury accessories retailer’s stock valued at $805,000 after buying an additional 8,584 shares during the period. AE Wealth Management LLC increased its stake in shares of Tapestry by 32.8% in the third quarter. AE Wealth Management LLC now owns 49,596 shares of the luxury accessories retailer’s stock valued at $1,426,000 after buying an additional 12,250 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Tapestry in the third quarter valued at about $116,000. Exchange Traded Concepts LLC acquired a new stake in shares of Tapestry in the third quarter valued at about $118,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Tapestry during the 3rd quarter valued at about $19,960,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Up 1.5 %

TPR stock opened at $40.02 on Thursday. The company has a quick ratio of 5.68, a current ratio of 6.25 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $9.18 billion, a PE ratio of 10.11, a P/E/G ratio of 0.83 and a beta of 1.57. The stock’s 50 day moving average is $45.28 and its 200-day moving average is $37.83. Tapestry, Inc. has a twelve month low of $25.99 and a twelve month high of $48.80.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.17. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.05 billion. Tapestry had a return on equity of 41.75% and a net margin of 13.80%. Tapestry’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business posted $1.36 earnings per share. Sell-side analysts expect that Tapestry, Inc. will post 4.24 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Thursday, March 7th. Tapestry’s payout ratio is 35.35%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TPR. StockNews.com upgraded Tapestry from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Thursday, February 29th. OTR Global restated a “mixed” rating on shares of Tapestry in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their target price on Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $54.00 target price on shares of Tapestry in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $47.81.

About Tapestry

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.