Allianz Asset Management GmbH Raises Holdings in Capri Holdings Limited (NYSE:CPRI)

Key Points

• Allianz Asset Management GmbH increased its stake in Capri Holdings Limited by 77.4% in the first quarter, now owning approximately 0.64% of the company valued at $14.9 million.
• Capri reported a significant earnings miss of ($4.90) per share, compared to expectations of $0.22, with quarterly revenues down 15.4% from the previous year.
• Analysts have mixed views on Capri, with price targets ranging from $13.00 to $26.00, and a consensus rating of "Hold" from multiple brokerages.

Allianz Asset Management GmbH grew its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 77.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 755,835 shares of the company's stock after buying an additional 329,879 shares during the quarter. Allianz Asset Management GmbH owned 0.64% of Capri worth $14,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in Capri by 758.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock worth $28,000 after purchasing an additional 1,266 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Capri in the 1st quarter worth about $30,000. UMB Bank n.a. raised its holdings in Capri by 134.9% in the 1st quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock worth $35,000 after purchasing an additional 1,020 shares during the period. Fifth Third Bancorp raised its holdings in Capri by 139.6% in the 1st quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock worth $46,000 after purchasing an additional 1,365 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Capri in the 4th quarter worth about $74,000. Institutional investors and hedge funds own 84.34% of the company's stock.

Capri Trading Down 3.9%

Capri stock traded down $0.78 during mid-day trading on Tuesday, hitting $18.97. The company's stock had a trading volume of 405,128 shares, compared to its average volume of 3,604,048. The firm has a market capitalization of $2.24 billion, a PE ratio of -1.91, a price-to-earnings-growth ratio of 0.42 and a beta of 1.67. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34. The company has a current ratio of 1.14, a quick ratio of 0.49 and a debt-to-equity ratio of 3.97. The stock's fifty day moving average is $18.05 and its two-hundred day moving average is $19.06.

Capri (NYSE:CPRI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported ($4.90) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($5.12). The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations 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 revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, analysts anticipate that Capri Holdings Limited will post 0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRI has been the subject of a number of analyst reports. Wall Street Zen cut Capri from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Telsey Advisory Group reissued a "market perform" rating and set a $20.00 target price (up previously from $17.00) on shares of Capri in a report on Wednesday, May 28th. JPMorgan Chase & Co. increased their target price on Capri from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Monday. Robert W. Baird reduced their target price on Capri from $26.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Barclays reduced their target price on Capri from $19.00 to $13.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Capri currently has a consensus rating of "Hold" and a consensus price target of $22.75.

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.