439,577 Shares in Capri Holdings Limited $CPRI Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. acquired a new stake of 439,577 shares in Capri Holdings Limited valued at approximately $8.67 million, representing about 0.37% ownership of the company.
• Various institutional investors have shown interest in Capri, with hedge funds collectively owning 84.34% of the stock, highlighting significant institutional backing.
• Despite reported earnings of $0.50 per share that exceeded expectations, Capri's stock has experienced a decline of 2.0% recently, trading around $21.32.

Adage Capital Partners GP L.L.C. acquired a new stake in Capri Holdings Limited (NYSE:CPRI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 439,577 shares of the company's stock, valued at approximately $8,673,000. Adage Capital Partners GP L.L.C. owned approximately 0.37% of Capri as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of Capri by 5.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,320 shares of the company's stock valued at $243,000 after purchasing an additional 667 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Capri by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 271,400 shares of the company's stock valued at $5,355,000 after purchasing an additional 709 shares in the last quarter. Investors Research Corp boosted its stake in shares of Capri by 3.8% in the 1st quarter. Investors Research Corp now owns 21,669 shares of the company's stock valued at $428,000 after purchasing an additional 800 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Capri by 3.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,163 shares of the company's stock valued at $595,000 after purchasing an additional 905 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Capri by 134.9% in the 1st quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock valued at $35,000 after purchasing an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company's stock.

Capri Trading Down 6.0%

NYSE CPRI traded down $1.32 during trading on Friday, hitting $20.52. The company had a trading volume of 3,008,637 shares, compared to its average volume of 2,547,276. 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 Holdings Limited has a one year low of $11.86 and a one year high of $43.34. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -2.18, a price-to-earnings-growth ratio of 0.47 and a beta of 1.75. The company's fifty day moving average is $20.06 and its 200-day moving average is $18.46.

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

Analyst Ratings Changes

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

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.