Bank of New York Mellon Corp Cuts Stake in Capri Holdings Limited (NYSE:CPRI)

Bank of New York Mellon Corp trimmed its holdings in Capri Holdings Limited (NYSE:CPRI - Free Report) by 20.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,098,096 shares of the company's stock after selling 284,953 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.93% of Capri worth $21,665,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Capri by 758.1% in the 1st 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. Mirae Asset Global Investments Co. Ltd. acquired a new position in Capri in the 1st quarter valued at $30,000. UMB Bank n.a. increased its stake in 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 buying an additional 1,020 shares during the period. Twin Tree Management LP acquired a new position in Capri in the 4th quarter valued at $45,000. Finally, Fifth Third Bancorp increased its stake in Capri by 139.6% in the 1st 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 period. 84.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Capri from $14.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $20.00 price target (up from $17.00) on shares of Capri in a research note on Wednesday, May 28th. Wells Fargo & Company lowered their price target on shares of Capri from $30.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Robert W. Baird lowered their price target on shares of Capri from $26.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Barclays lowered their price target on shares of Capri from $19.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $22.50.

Capri Price Performance

Shares of Capri stock traded down $0.16 on Monday, hitting $19.41. The company's stock had a trading volume of 2,357,321 shares, compared to its average volume of 3,556,565. Capri Holdings Limited has a 52-week low of $11.86 and a 52-week high of $43.34. The company has a quick ratio of 0.49, a current ratio of 1.14 and a debt-to-equity ratio of 3.97. The firm has a fifty day moving average price of $17.92 and a 200-day moving average price of $19.15. The company has a market capitalization of $2.29 billion, a P/E ratio of -1.95, a price-to-earnings-growth ratio of 0.41 and a beta of 1.67.

Capri (NYSE:CPRI - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported ($4.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($5.12). The firm had revenue of $1.04 billion during 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%. Capri's revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. On average, equities research analysts expect that Capri Holdings Limited will post 0.98 earnings per share 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.