Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Tapestry, Inc. $TPR

Key Points

• Zurcher Kantonalbank boosted its stake in Tapestry by 93.1% in Q4 to 307,664 shares, worth about $39.31 million (roughly 0.15% of the company).
• Tapestry beat Q4 estimates, reporting $2.69 EPS vs. $2.20 expected and $2.50B in revenue vs. $2.29B, and set FY2026 guidance of 6.400–6.450 EPS (consensus ~6.45).
• Notable insider selling: directors Thomas Greco and Anne Gates recently sold shares (14,245 and 6,498 respectively) and insiders have sold 164,956 shares worth ~$25.3M in the last 90 days; insiders now own 1.32% of the stock.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 93.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 307,664 shares of the luxury accessories retailer's stock after buying an additional 148,336 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.15% of Tapestry worth $39,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in Tapestry during the 3rd quarter valued at about $26,000. Triumph Capital Management purchased a new stake in shares of Tapestry in the third quarter valued at about $29,000. Steph & Co. lifted its holdings in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC increased its stake in shares of Tapestry by 157.4% during the 4th quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer's stock worth $41,000 after purchasing an additional 192 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Thomas Greco sold 14,245 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the completion of the transaction, the director owned 21,302 shares of the company's stock, valued at $3,289,880.88. This represents a 40.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne Gates sold 6,498 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total transaction of $999,327.42. Following the transaction, the director owned 22,698 shares in the company, valued at approximately $3,490,725.42. The trade was a 22.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 164,956 shares of company stock worth $25,297,262 over the last ninety days. Insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TPR. Argus set a $165.00 target price on Tapestry in a research note on Thursday, March 12th. Jefferies Financial Group downgraded Tapestry from a "buy" rating to a "hold" rating and dropped their price target for the stock from $142.00 to $138.00 in a research report on Wednesday, January 14th. Wall Street Zen cut Tapestry from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 11th. Barclays set a $179.00 price objective on Tapestry and gave the company an "overweight" rating in a research report on Friday, February 6th. Finally, Evercore lifted their price objective on Tapestry from $129.00 to $150.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $151.06.

Tapestry Stock Down 1.4%

TPR stock opened at $153.63 on Tuesday. The company has a 50 day moving average price of $148.55 and a two-hundred day moving average price of $129.97. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The stock has a market capitalization of $31.10 billion, a P/E ratio of 63.48, a PEG ratio of 1.87 and a beta of 1.59. Tapestry, Inc. has a one year low of $61.60 and a one year high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.49. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 6.45 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, March 6th. Tapestry's dividend payout ratio (DPR) is presently 66.12%.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry's operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.