Apollon Wealth Management LLC Purchases Shares of 5,018 Tapestry, Inc. (NYSE:TPR)

Apollon Wealth Management LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,018 shares of the luxury accessories retailer's stock, valued at approximately $328,000.

A number of other large investors have also modified their holdings of TPR. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Tapestry in the fourth quarter valued at approximately $300,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Tapestry by 8.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,423 shares of the luxury accessories retailer's stock valued at $550,000 after buying an additional 644 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Tapestry by 19.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,705 shares of the luxury accessories retailer's stock valued at $12,562,000 after buying an additional 31,002 shares during the last quarter. WT Asset Management Ltd acquired a new position in Tapestry in the fourth quarter valued at approximately $42,762,000. Finally, Yousif Capital Management LLC lifted its holdings in Tapestry by 20.8% in the fourth quarter. Yousif Capital Management LLC now owns 39,091 shares of the luxury accessories retailer's stock valued at $2,554,000 after acquiring an additional 6,729 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 3.2 %

TPR stock traded up $2.81 during mid-day trading on Tuesday, reaching $90.51. The company had a trading volume of 1,483,236 shares, compared to its average volume of 5,085,321. The company has a debt-to-equity ratio of 1.78, a quick ratio of 4.38 and a current ratio of 1.58. Tapestry, Inc. has a fifty-two week low of $35.23 and a fifty-two week high of $90.69. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 2.30 and a beta of 1.58. The firm has a fifty day simple moving average of $70.61 and a 200 day simple moving average of $55.34.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share 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 posted $1.63 EPS. Analysts forecast that Tapestry, Inc. will post 4.7 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.55%. Tapestry's dividend payout ratio (DPR) is 40.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays upped their target price on Tapestry from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Redburn Atlantic raised Tapestry from a "neutral" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Tuesday. Daiwa America raised Tapestry to a "hold" rating in a research note on Monday, November 18th. UBS Group upped their target price on Tapestry from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Raymond James reissued an "outperform" rating and issued a $88.00 price objective (up from $79.00) on shares of Tapestry in a research note on Friday, February 7th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and an average price target of $76.63.

Tapestry 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.