Tapestry, Inc. (NYSE:TPR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tapestry, Inc. (NYSE:TPR) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,148 shares of the luxury accessories retailer’s stock after acquiring an additional 5,292 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tapestry were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mackenzie Financial Corp lifted its holdings in Tapestry by 25.9% in the 4th quarter. Mackenzie Financial Corp now owns 18,132 shares of the luxury accessories retailer’s stock valued at $667,000 after acquiring an additional 3,735 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Tapestry by 30.3% in the 4th quarter. Vontobel Holding Ltd. now owns 16,199 shares of the luxury accessories retailer’s stock valued at $596,000 after acquiring an additional 3,767 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in Tapestry in the 4th quarter valued at about $1,107,000. Louisiana State Employees Retirement System acquired a new stake in Tapestry in the 4th quarter valued at about $512,000. Finally, Ingalls & Snyder LLC lifted its stake in Tapestry by 27.1% during the fourth quarter. Ingalls & Snyder LLC now owns 12,070 shares of the luxury accessories retailer’s stock valued at $444,000 after buying an additional 2,572 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com raised shares of Tapestry from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. The Goldman Sachs Group upped their price objective on shares of Tapestry from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI raised shares of Tapestry from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $50.00 in a research note on Monday, February 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Tapestry in a research note on Wednesday, March 27th. Finally, Raymond James upped their price objective on shares of Tapestry from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.81.

Tapestry Trading Up 1.5 %

NYSE:TPR opened at $40.02 on Thursday. The stock’s 50 day moving average price is $45.28 and its 200 day moving average price is $37.83. Tapestry, Inc. has a 52 week low of $25.99 and a 52 week high of $48.80. The company has a market capitalization of $9.18 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.83 and a beta of 1.57. The company has a debt-to-equity ratio of 2.90, a quick ratio of 5.68 and a current ratio of 6.25.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 8th. The luxury accessories retailer reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.17. The firm had revenue of $2.08 billion for 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%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. On average, research analysts forecast that Tapestry, Inc. will post 4.24 EPS for the current fiscal year.

Tapestry Announces Dividend

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

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.