Capri (NYSE:CPRI) Trading Down 5.8% - Here's What Happened

Key Points

• Capri Holdings Limited's shares fell 5.8% to $20.58 as of Friday, with trading volume down 49% from the average.
• Analysts have upgraded Capri from a "sell" to a "hold" rating, with a consensus price target of $24.08 based on multiple brokerage reports.
• Despite beating EPS estimates with $0.50 reported on August 6th, the company's quarterly revenue was down 6.0% compared to the previous year.

Shares of Capri Holdings Limited (NYSE:CPRI - Get Free Report) fell 5.8% on Friday . The stock traded as low as $20.64 and last traded at $20.58. 1,838,188 shares were traded during trading, a decline of 49% from the average session volume of 3,582,254 shares. The stock had previously closed at $21.84.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CPRI. Wall Street Zen raised shares of Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research upgraded Capri from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. raised shares of Capri from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $21.00 to $30.00 in a report on Wednesday, August 13th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $22.00 price target (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. Finally, UBS Group lifted their price target on shares of Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Capri has an average rating of "Hold" and a consensus price target of $24.08.

Capri Price Performance

The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -2.19, a price-to-earnings-growth ratio of 0.46 and a beta of 1.75. The stock has a fifty day simple moving average of $20.02 and a 200-day simple moving average of $18.46. The company has a current ratio of 1.17, a quick ratio of 0.61 and a debt-to-equity ratio of 3.97.

Capri (NYSE:CPRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.37. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%.The firm had revenue of $797.00 million for the quarter, compared to analyst estimates of $773.18 million. During the same period in the previous year, the company posted $0.04 earnings per share. The company's quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Capri Holdings Limited will post 0.98 EPS for the current year.

Hedge Funds Weigh In On Capri

Several institutional investors have recently added to or reduced their stakes in CPRI. Mirae Asset Global Investments Co. Ltd. acquired a new position in Capri during the 1st quarter worth about $30,000. Allspring Global Investments Holdings LLC bought a new position in Capri in the 1st quarter valued at $826,000. Cambridge Investment Research Advisors Inc. boosted its position in Capri by 14.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,420 shares of the company's stock valued at $363,000 after buying an additional 2,271 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Capri by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,070,258 shares of the company's stock valued at $21,116,000 after buying an additional 66,173 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Capri in the first quarter valued at about $247,000. 84.34% of the stock is owned by institutional investors.

Capri Company Profile

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.

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