Maverick Capital Ltd. Boosts Position in Capri Holdings Limited $CPRI

Key Points

• Maverick Capital Ltd. significantly increased its stake in Capri Holdings Limited by 785.0%, owning 277,746 shares worth $5.48 million after acquiring 246,364 shares in the first quarter.
• Multiple large investors, including Farther Finance Advisors LLC and Fifth Third Bancorp, have also boosted their stakes, reflecting strong institutional interest, with 84.34% of Capri's stock owned by hedge funds.
• Analysts have upgraded Capri's stock ratings, with JPMorgan Chase & Co. raising its price target from $21.00 to $30.00, and the stock currently has an average consensus price target of $24.08.

Maverick Capital Ltd. raised its position in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 785.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,746 shares of the company's stock after acquiring an additional 246,364 shares during the period. Maverick Capital Ltd. owned approximately 0.24% of Capri worth $5,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Capri in the first quarter worth $30,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Capri during the first quarter valued at $826,000. Bayesian Capital Management LP purchased a new position in shares of Capri during the fourth quarter valued at $767,000. Cambridge Investment Research Advisors Inc. grew its stake in Capri by 14.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,420 shares of the company's stock valued at $363,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Capri by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,070,258 shares of the company's stock valued at $21,116,000 after purchasing an additional 66,173 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Telsey Advisory Group restated a "market perform" rating and set a $22.00 price target (up previously from $20.00) on shares of Capri in a research note on Wednesday, August 6th. Zacks Research upgraded Capri from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. UBS Group increased their target price 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 upgraded Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, 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 research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.08.

Capri Stock Down 2.0%

Shares of CPRI traded down $0.45 during midday trading on Friday, hitting $21.32. The company had a trading volume of 2,458,622 shares, compared to its average volume of 3,583,824. The company's 50-day simple moving average is $19.68 and its 200-day simple moving average is $18.47. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.61 and a current ratio of 1.17. The firm has a market capitalization of $2.54 billion, a P/E ratio of -2.27, a P/E/G ratio of 0.45 and a beta of 1.75. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.37. The business had revenue of $797.00 million during 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 business's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. As a group, sell-side analysts expect that Capri Holdings Limited will post 0.98 EPS for the current year.

Capri Company 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.