Bayforest Capital Ltd Grows Stock Position in Capri Holdings Limited $CPRI

Key Points

• Bayforest Capital Ltd significantly increased its stake in Capri Holdings Limited by 569.1% to own 35,330 shares worth $697,000 at the end of the last quarter.
• Capri's stock recently opened at $20.48 and experienced a 3.8% decline, with earnings per share surpassing analyst expectations at $0.50.
• Institutional investors collectively hold 84.34% of Capri's stock, showing strong interest from major investment firms.

Bayforest Capital Ltd grew its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 569.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,330 shares of the company's stock after purchasing an additional 30,050 shares during the period. Bayforest Capital Ltd's holdings in Capri were worth $697,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 1,266 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Capri in the first quarter valued at about $30,000. Banque Cantonale Vaudoise acquired a new position in shares of Capri in the first quarter valued at about $29,000. UMB Bank n.a. increased its holdings 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 purchasing an additional 1,020 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Capri by 139.6% in the first quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock valued at $46,000 after purchasing an additional 1,365 shares during the period. 84.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CPRI. Zacks Research raised Capri from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. raised Capri from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $21.00 to $30.00 in a report on Wednesday, August 13th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $22.00 target price (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. UBS Group raised their target price on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $24.08.

Capri Price Performance

CPRI stock traded down $1.32 during mid-day trading on Friday, reaching $20.52. 3,008,637 shares of the company's stock were exchanged, compared to its average volume of 2,547,276. 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 stock's 50 day moving average is $20.06 and its 200 day moving average is $18.44. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. Capri Holdings Limited has a 12-month low of $11.86 and a 12-month high of $43.34.

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

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.