Kamunting Street Capital Management L.P. Grows Holdings in Capri Holdings Limited $CPRI

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. boosted its position in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 9.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,766 shares of the company's stock after acquiring an additional 12,634 shares during the period. Capri comprises 1.9% of Kamunting Street Capital Management L.P.'s investment portfolio, making the stock its 11th biggest holding. Kamunting Street Capital Management L.P. owned about 0.12% of Capri worth $2,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CPRI. Brooklyn Investment Group lifted its holdings in shares of Capri by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 2,351 shares of the company's stock valued at $46,000 after purchasing an additional 1,711 shares during the last quarter. American Century Companies Inc. lifted its holdings in 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 acquiring an additional 1,201,488 shares during the period. Russell Investments Group Ltd. boosted its holdings in Capri by 17.5% during the first quarter. Russell Investments Group Ltd. now owns 330,125 shares of the company's stock worth $6,515,000 after buying an additional 49,121 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Capri during the 1st quarter worth approximately $5,139,000. Finally, Entropy Technologies LP acquired a new stake in Capri in the first quarter valued at $247,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Trading Down 3.5%

NYSE:CPRI traded down $0.76 on Friday, hitting $20.81. 920,387 shares of the stock were exchanged, compared to its average volume of 3,597,495. Capri Holdings Limited has a fifty-two week low of $11.86 and a fifty-two week high of $43.34. The stock has a fifty day moving average of $19.29 and a 200-day moving average of $18.52. The company has a current ratio of 1.17, a quick ratio of 0.61 and a debt-to-equity ratio of 3.97. The stock has a market cap of $2.48 billion, a PE ratio of -2.22, a PEG ratio of 0.46 and a beta of 1.72.

Capri (NYSE:CPRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.37. The firm had revenue of $797.00 million for the quarter, compared to analysts' expectations of $773.18 million. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. Capri's revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. As a group, equities analysts expect that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Capri from a "strong sell" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of Capri from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $21.00 to $30.00 in a report on Wednesday, August 13th. Telsey Advisory Group reissued a "market perform" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Capri in a research report on Wednesday, August 6th. UBS Group raised their target price on shares of Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.08.

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.