Telsey Advisory Group Reiterates Market Perform Rating for Capri (NYSE:CPRI)

Key Points

• Telsey Advisory Group has reiterated a "market perform" rating for Capri Holdings (CPRI) with a price target of $20.00, suggesting a potential upside of 4.36% from the previous close.
• Capri reported a substantial loss of ($4.90) earnings per share, significantly missing analysts' expectations, while its revenue fell 15.4% year-over-year to $1.04 billion.
• Institutional ownership of Capri is high at 84.34%, with significant stakes recently increased by funds such as FMR LLC and American Century Companies Inc.

Capri (NYSE:CPRI - Get Free Report)'s stock had its "market perform" rating reaffirmed by investment analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the stock. Telsey Advisory Group's price target points to a potential upside of 17.05% from the stock's current price.

CPRI has been the topic of a number of other reports. Wall Street Zen lowered Capri from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. UBS Group boosted their price objective on Capri from $14.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Wells Fargo & Company decreased their target price on shares of Capri from $30.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of Capri from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Monday. Finally, Robert W. Baird lowered their price objective on shares of Capri from $26.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.75.

Capri Price Performance

Shares of NYSE:CPRI traded down $1.10 during trading hours on Wednesday, hitting $17.09. 348,900 shares of the company's stock traded hands, compared to its average volume of 3,580,866. The company's fifty day simple moving average is $18.10 and its two-hundred day simple moving average is $19.06. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -1.71, a price-to-earnings-growth ratio of 0.40 and a beta of 1.67. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.49 and a current ratio of 1.14. Capri has a 52 week low of $11.86 and a 52 week high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported ($4.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($5.12). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $989.05 million. Capri had a negative return on equity of 39.55% and a negative net margin of 26.61%. The company's quarterly revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. As a group, equities analysts anticipate that Capri will post 0.98 EPS for the current fiscal year.

Institutional Trading of Capri

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPRI. FMR LLC grew its stake in shares of Capri by 249.4% in the fourth quarter. FMR LLC now owns 9,987,603 shares of the company's stock worth $210,339,000 after acquiring an additional 7,129,123 shares during the last quarter. Norges Bank acquired a new stake in Capri in the 4th quarter worth $58,070,000. Junto Capital Management LP bought a new position in shares of Capri during the 4th quarter worth about $26,112,000. American Century Companies Inc. raised its position in shares of Capri by 143.3% during the first quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock valued at $40,247,000 after buying an additional 1,201,488 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Capri by 72.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,595,029 shares of the company's stock valued at $54,647,000 after buying an additional 1,088,051 shares during the period. Institutional investors and hedge funds own 84.34% of the company's stock.

About Capri

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.