Bank of America Corp DE Reduces Stock Position in Capri Holdings Limited $CPRI

Bank of America Corp DE trimmed its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 54.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,207 shares of the company's stock after selling 526,957 shares during the period. Bank of America Corp DE owned 0.37% of Capri worth $7,774,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC grew its position in Capri by 3.4% in the fourth quarter. Empowered Funds LLC now owns 16,580 shares of the company's stock worth $405,000 after acquiring an additional 550 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Capri by 1.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 41,707 shares of the company's stock valued at $1,018,000 after acquiring an additional 550 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Capri by 14.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company's stock valued at $105,000 after purchasing an additional 555 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Capri by 2.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 24,444 shares of the company's stock valued at $431,000 after purchasing an additional 600 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Capri by 0.7% during the second quarter. California State Teachers Retirement System now owns 108,789 shares of the company's stock worth $1,926,000 after purchasing an additional 734 shares during the last quarter. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Capri Stock Down 2.9%

Shares of Capri stock opened at $13.29 on Wednesday. Capri Holdings Limited has a twelve month low of $13.21 and a twelve month high of $28.26. The company has a quick ratio of 0.54, a current ratio of 1.19 and a debt-to-equity ratio of 2.27. The company's 50 day moving average is $16.80 and its 200 day moving average is $18.34. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 0.29 and a beta of 1.41.

Capri (NYSE:CPRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.27. Capri had a net margin of 4.44% and a return on equity of 297.36%. The firm had revenue of $769.00 million for the quarter, compared to analysts' expectations of $757.61 million. During the same quarter in the prior year, the business earned $0.50 EPS. The business's quarterly revenue was down 3.5% on a year-over-year basis. Capri has set its Q2 2027 guidance at 0.200-0.200 EPS and its FY 2027 guidance at 2.150-2.150 EPS. Research analysts anticipate that Capri Holdings Limited will post 2.11 EPS for the current year.

Insider Activity

In other Capri news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction on Monday, June 8th. The shares were sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPRI. Wells Fargo & Company reduced their price objective on Capri from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Capri from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, May 28th. Bank of America lowered their price objective on shares of Capri from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. JPMorgan Chase & Co. cut their target price on Capri from $29.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. Finally, TD Cowen lowered Capri from a "buy" rating to a "hold" rating and dropped their price target for the stock from $20.00 to $17.00 in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $21.93.

About Capri

Capri Holdings Limited NYSE: CPRI is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company's principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand's distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source