Capricorn Fund Managers Ltd Buys New Shares in Capri Holdings Limited (NYSE:CPRI)

Key Points

• Capricorn Fund Managers Ltd purchased 160,000 shares of Capri Holdings Limited, representing 1.7% of its investment portfolio, valued at approximately $3.26 million.
• Capri reported a significant loss of ($4.90) EPS in its recent quarterly earnings, missing expectations, with revenue of $1.04 billion compared to analyst estimates of $989 million.
• Analysts have mixed views on Capri, with Barclays lowering its price target from $19.00 to $13.00, while Wells Fargo reduced its target from $30.00 to $25.00, reflecting a cautious outlook.

Capricorn Fund Managers Ltd acquired a new position in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 160,000 shares of the company's stock, valued at approximately $3,259,000. Capri comprises approximately 1.7% of Capricorn Fund Managers Ltd's holdings, making the stock its 26th biggest position. Capricorn Fund Managers Ltd owned 0.14% of Capri at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. increased its holdings in Capri by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 271,400 shares of the company's stock worth $5,355,000 after purchasing an additional 709 shares in the last quarter. Investors Research Corp increased its stake in shares of Capri by 3.8% in the first quarter. Investors Research Corp now owns 21,669 shares of the company's stock valued at $428,000 after buying an additional 800 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Capri by 3.1% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,163 shares of the company's stock valued at $595,000 after buying an additional 905 shares during the period. UMB Bank n.a. increased its stake in shares of Capri by 134.9% in 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 period. Finally, Farther Finance Advisors LLC increased its stake in shares of Capri by 758.1% in 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 period. 84.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CPRI. Barclays cut their target price on Capri from $19.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Robert W. Baird cut their target price on Capri from $26.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Wall Street Zen lowered Capri from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. JPMorgan Chase & Co. increased their price target on Capri from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $20.00 price target on shares of Capri in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.75.

Capri Trading Down 3.1%

Shares of Capri stock traded down $0.59 during trading on Wednesday, hitting $18.56. The stock had a trading volume of 2,009,212 shares, compared to its average volume of 2,261,306. The stock has a 50 day simple moving average of $18.07 and a 200 day simple moving average of $19.06. The company has a market capitalization of $2.19 billion, a PE ratio of -1.86, a P/E/G ratio of 0.41 and a beta of 1.67. The company has a quick ratio of 0.49, a current ratio of 1.14 and a debt-to-equity ratio of 3.97. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34.

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

Capri 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.