Tapestry, Inc. (NYSE:TPR) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 49.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 793,099 shares of the luxury accessories retailer's stock after selling 785,789 shares during the period. Voya Investment Management LLC owned approximately 0.38% of Tapestry worth $51,813,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Apollon Wealth Management LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $328,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Tapestry by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,997,414 shares of the luxury accessories retailer's stock worth $522,471,000 after buying an additional 382,856 shares during the period. Decker Retirement Planning Inc. acquired a new stake in shares of Tapestry during the fourth quarter worth about $3,437,000. Principal Financial Group Inc. boosted its stake in shares of Tapestry by 14.6% during the fourth quarter. Principal Financial Group Inc. now owns 309,119 shares of the luxury accessories retailer's stock worth $20,195,000 after buying an additional 39,298 shares during the period. Finally, Pzena Investment Management LLC acquired a new stake in shares of Tapestry during the fourth quarter worth about $18,737,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TPR shares. Evercore ISI increased their target price on shares of Tapestry from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut their target price on Tapestry from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday. UBS Group lifted their price target on Tapestry from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group lifted their price target on Tapestry from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.47.

Tapestry Price Performance

TPR traded up $0.39 during trading on Thursday, reaching $71.04. 1,555,410 shares of the stock were exchanged, compared to its average volume of 4,156,649. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.58 and a quick ratio of 1.05. Tapestry, Inc. has a 1 year low of $35.23 and a 1 year high of $90.85. The business's 50 day moving average price is $71.14 and its two-hundred day moving average price is $66.37. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.01 and a beta of 1.37.

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, beating the consensus estimate 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 company earned $1.63 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Thursday, March 6th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.97%. Tapestry's dividend payout ratio is currently 40.58%.

Insider Activity

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $88.00, for a total transaction of $1,048,696.00. Following the completion of the sale, the general counsel now directly owns 38,609 shares in the company, valued at $3,397,592. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd Kahn sold 7,786 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the sale, the chief executive officer now owns 201,531 shares of the company's stock, valued at $17,652,100.29. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,537 shares of company stock worth $5,730,589 over the last three months. 1.18% of the stock is currently owned by corporate 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.