Ionic Capital Management LLC Makes New $296,000 Investment in Capri Holdings Limited $CPRI

Key Points

• Ionic Capital Management LLC has acquired 15,000 shares of Capri Holdings Limited, valued at approximately $296,000, signaling increased institutional interest in the stock.
• Analysts have upgraded their ratings on Capri, with JPMorgan Chase raising its price target from $21 to $30, indicating positive sentiment about the company's performance.
• Capri reported earnings of $0.50 per share, substantially exceeding expectations of $0.13, despite revenue declining by 6.0% compared to the previous year.

Ionic Capital Management LLC bought a new stake in Capri Holdings Limited (NYSE:CPRI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,000 shares of the company's stock, valued at approximately $296,000.

A number of other hedge funds also recently made changes to their positions in CPRI. Farther Finance Advisors LLC raised its holdings in shares of Capri by 758.1% during the first quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock valued at $28,000 after buying an additional 1,266 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Capri during the first quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Capri during the first quarter valued at approximately $30,000. UMB Bank n.a. raised its holdings in shares of Capri by 134.9% during the first quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock valued at $35,000 after buying an additional 1,020 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Capri by 139.6% during the first quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock valued at $46,000 after buying an additional 1,365 shares during the last quarter. Institutional investors own 84.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPRI. Zacks Research raised Capri from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. UBS Group raised their price objective on shares of Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Telsey Advisory Group reiterated a "market perform" rating and set a $22.00 price objective (up previously from $20.00) on shares of Capri in a research note on Wednesday, August 6th. JPMorgan Chase & Co. upgraded shares of Capri from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $21.00 to $30.00 in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Capri from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Capri has an average rating of "Hold" and a consensus price target of $24.08.

Capri Stock Up 0.3%

Capri stock traded up $0.06 during trading hours on Wednesday, hitting $21.40. The company had a trading volume of 1,828,904 shares, compared to its average volume of 3,590,853. The firm has a market capitalization of $2.55 billion, a P/E ratio of -2.29, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. The firm's fifty day moving average is $19.88 and its 200-day moving average is $18.43. Capri Holdings Limited has a fifty-two week low of $11.86 and a fifty-two week high of $43.34.

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

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.