Capri (NYSE:CPRI) Given New $24.00 Price Target at Barclays

Capri (NYSE:CPRI) had its price objective trimmed by Barclays from $32.00 to $24.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CPRI has been the topic of several other reports. TD Cowen reissued a “buy” rating on shares of Capri in a research report on Wednesday, February 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 target price on shares of Capri in a research report on Tuesday, February 3rd. Wells Fargo & Company cut their target price on Capri from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 4th. UBS Group reissued a “neutral” rating and issued a $22.00 target price on shares of Capri in a research report on Wednesday, February 4th. Finally, BTIG Research reissued a “buy” rating and issued a $30.00 target price on shares of Capri in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.85.

Capri Stock Performance

Shares of CPRI stock opened at $19.47 on Wednesday. The business’s fifty day simple moving average is $19.40 and its 200-day simple moving average is $21.96. The company has a market cap of $2.32 billion, a PE ratio of -4.57, a PEG ratio of 0.28 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07. Capri has a 12-month low of $11.86 and a 12-month high of $28.26.

Capri (NYSE:CPRI) last released its earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. Capri had a negative return on equity of 430.23% and a negative net margin of 13.57%.The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.84 million. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. Analysts expect that Capri will post 0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John D. Idol purchased 55,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $17.98 per share, with a total value of $988,900.00. Following the transaction, the chief executive officer owned 2,257,645 shares of the company’s stock, valued at approximately $40,592,457.10. This trade represents a 2.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Capri

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Capri by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 34,894 shares of the company’s stock worth $695,000 after buying an additional 483 shares during the last quarter. Empowered Funds LLC raised its position in Capri by 3.4% in the fourth quarter. Empowered Funds LLC now owns 16,580 shares of the company’s stock valued at $405,000 after purchasing an additional 550 shares during the period. Los Angeles Capital Management LLC raised its position in Capri by 1.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 41,707 shares of the company’s stock valued at $1,018,000 after purchasing an additional 550 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Capri by 14.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company’s stock worth $105,000 after purchasing an additional 555 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Capri by 1.2% during the third quarter. Amalgamated Bank now owns 52,398 shares of the company’s stock worth $1,044,000 after purchasing an additional 616 shares in the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.

About Capri

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.