Capri (NYSE:CPRI) Shares Down 6.4% – Here’s Why

Shares of Capri Holdings Limited (NYSE:CPRI) traded down 6.4% on Wednesday . The company traded as low as $17.96 and last traded at $18.1850. 551,135 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,074,980 shares. The stock had previously closed at $19.42.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial restated an “outperform” rating and issued a $22.00 price target on shares of Capri in a research report on Thursday, May 28th. BTIG Research reiterated a “buy” rating and issued a $30.00 price objective on shares of Capri in a report on Thursday, May 28th. Telsey Advisory Group cut their target price on Capri from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, May 28th. JPMorgan Chase & Co. reduced their target price on Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Finally, Barclays decreased their target price on Capri from $32.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Capri presently has an average rating of “Hold” and an average price target of $24.79.

Capri Trading Up 1.1%

The company has a market capitalization of $2.08 billion, a P/E ratio of 15.88, a PEG ratio of 0.33 and a beta of 1.39. 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 business’s 50-day moving average price is $18.88 and its two-hundred day moving average price is $20.40.

Capri (NYSE:CPRI) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.22 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 analysts’ expectations of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. The firm’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.90) EPS. As a group, analysts forecast that Capri Holdings Limited will post 2.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen F. Reitman sold 17,981 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was 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 company insiders.

Hedge Funds Weigh In On Capri

Several institutional investors and hedge funds have recently modified their holdings of the business. Measured Wealth Private Client Group LLC raised its holdings in Capri by 299.7% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company’s stock worth $27,000 after buying an additional 1,142 shares during the period. Quantbot Technologies LP acquired a new position in shares of Capri in the second quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Capri by 273.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,236 shares of the company’s stock valued at $55,000 after buying an additional 1,638 shares during the period. MidFirst Bank bought a new stake in shares of Capri during the fourth quarter worth $77,000. Finally, Hantz Financial Services Inc. increased its position in shares of Capri by 57.9% during the fourth quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock worth $104,000 after acquiring an additional 1,565 shares in the last quarter. 84.34% of the stock is currently 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.