Voya Investment Management LLC Sells 785,789 Shares of Tapestry, Inc. (NYSE:TPR)

Voya Investment Management LLC lowered its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 49.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 793,099 shares of the luxury accessories retailer's stock after selling 785,789 shares during the quarter. Voya Investment Management LLC owned about 0.38% of Tapestry worth $51,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC boosted its holdings in Tapestry by 40.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Tapestry by 78.0% in the fourth quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer's stock worth $38,000 after acquiring an additional 252 shares during the period. Canada Post Corp Registered Pension Plan purchased a new position in shares of Tapestry in the fourth quarter valued at $48,000. UMB Bank n.a. raised its stake 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 period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Tapestry by 1,792.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,192 shares of the luxury accessories retailer's stock valued at $78,000 after purchasing an additional 1,129 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TPR has been the topic of several analyst reports. Guggenheim upped their price target on Tapestry from $70.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Robert W. Baird upped their target price on shares of Tapestry from $93.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Citigroup cut their price target on shares of Tapestry from $95.00 to $81.00 and set a "buy" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group decreased their price target on shares of Tapestry from $98.00 to $84.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $88.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.26.

Tapestry Trading Up 1.0 %

Shares of NYSE TPR traded up $0.72 during mid-day trading on Tuesday, hitting $69.98. The stock had a trading volume of 3,029,773 shares, compared to its average volume of 4,169,166. The business has a 50 day moving average price of $71.75 and a two-hundred day moving average price of $66.31. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. The firm has a market cap of $14.49 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) 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 period in the previous year, the business earned $1.63 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Thursday, March 6th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, March 6th. Tapestry's dividend payout ratio (DPR) is currently 40.58%.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 7,786 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Scott A. Roe sold 25,727 shares of the company's stock in a transaction 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 directly owns 146,587 shares in the company, valued at approximately $12,688,570.72. The trade was a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is currently owned by company insiders.

Tapestry Company 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.