Capri Holdings Limited $CPRI Shares Acquired by Kamunting Street Capital Management L.P.

Key Points

• Kamunting Street Capital Management L.P. increased its stake in Capri Holdings Limited by 9.8%, now holding 141,766 shares, representing approximately 1.9% of its investment portfolio.
• Capri reported $0.50 EPS for the last quarter, significantly exceeding analysts' expectations and generating revenue of $797 million, despite a 6% decline year-over-year.
• Wall Street analysts have recently raised their target prices for Capri Holdings, with a consensus average target of $24.08 and a mix of "Buy" and "Hold" ratings from various firms.

Kamunting Street Capital Management L.P. grew its stake in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,766 shares of the company's stock after buying an additional 12,634 shares during the period. Capri accounts for 1.9% of Kamunting Street Capital Management L.P.'s investment portfolio, making the stock its 11th biggest position. Kamunting Street Capital Management L.P. owned approximately 0.12% of Capri worth $2,797,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Primecap Management Co. CA increased its position in Capri by 10.6% during the first quarter. Primecap Management Co. CA now owns 5,183,720 shares of the company's stock worth $102,275,000 after buying an additional 495,387 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Capri by 72.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,595,029 shares of the company's stock valued at $54,647,000 after purchasing an additional 1,088,051 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Capri by 7.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,496,815 shares of the company's stock valued at $49,262,000 after purchasing an additional 172,360 shares during the period. DME Capital Management LP grew its position in shares of Capri by 93.6% in the fourth quarter. DME Capital Management LP now owns 2,103,717 shares of the company's stock valued at $44,304,000 after purchasing an additional 1,017,072 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Capri by 143.3% in the first quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock valued at $40,247,000 after purchasing an additional 1,201,488 shares during the period. Hedge funds and other institutional investors own 84.34% of the company's stock.

Wall Street Analysts Forecast Growth

CPRI has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Telsey Advisory Group reissued a "market perform" rating and set a $22.00 price target (up previously from $20.00) on shares of Capri in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised Capri from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $21.00 to $30.00 in a research report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $24.08.

Capri Stock Up 0.4%

Shares of CPRI traded up $0.09 during midday trading on Wednesday, reaching $21.55. 1,736,647 shares of the company were exchanged, compared to its average volume of 3,802,380. The stock has a 50-day moving average price of $19.20 and a 200-day moving average price of $18.53. 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 1.17, a quick ratio of 0.61 and a debt-to-equity ratio of 3.97.

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 analysts' consensus estimates of $0.13 by $0.37. The company had revenue of $797.00 million for the quarter, compared to analysts' expectations of $773.18 million. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%.The firm's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, analysts expect that Capri Holdings Limited will post 0.98 EPS for the current fiscal 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.