Capri (NYSE:CPRI) Reaches New 52-Week Low – What’s Next?

Capri Holdings Limited (NYSE:CPRI)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $16.71 and last traded at $16.6990, with a volume of 1929744 shares traded. The stock had previously closed at $17.47.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPRI shares. Weiss Ratings upgraded Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. UBS Group cut their price target on shares of Capri from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of Capri in a research report on Thursday, May 28th. JPMorgan Chase & Co. decreased their price objective on shares of Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. Finally, Bank of America dropped their price objective on shares of Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.21.

Capri Price Performance

The company has a 50-day moving average price of $18.72 and a two-hundred day moving average price of $20.18. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. The company has a market cap of $1.89 billion, a PE ratio of 14.47, a P/E/G ratio of 0.31 and a beta of 1.39.

Capri (NYSE:CPRI) last posted its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The company’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($4.90) earnings per share. Sell-side analysts expect that Capri Holdings Limited will post 2.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Capri

A number of large investors have recently added to or reduced their stakes in CPRI. Royal Bank of Canada lifted its holdings in Capri by 70.0% in the 1st quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock worth $7,514,000 after buying an additional 156,757 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Capri by 48.8% during the first quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock valued at $397,000 after acquiring an additional 6,595 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Capri by 13.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after acquiring an additional 1,313 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Capri by 22.4% during the first quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company’s stock worth $15,084,000 after acquiring an additional 139,809 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Capri by 23.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company’s stock worth $8,337,000 after acquiring an additional 80,928 shares during the last quarter. 84.34% of the stock is owned by institutional investors and hedge funds.

Capri Company Profile

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.