Russell Investments Group Ltd. Grows Position in Capri Holdings Limited $CPRI

Key Points

• Russell Investments Group Ltd. increased its stake in Capri Holdings Limited by 17.5% during Q1, now holding approximately 330,125 shares worth $6.5 million.
• A number of brokerage analysts have improved their ratings for Capri, with UBS raising the price target from $18 to $23 and JPMorgan lifting it from $21 to $30.
• Capri reported $0.50 EPS for the recent quarter, surpassing expectations of $0.13, despite a 6% decline in revenue compared to the previous year.

Russell Investments Group Ltd. boosted its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 330,125 shares of the company's stock after purchasing an additional 49,121 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.28% of Capri worth $6,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Nuveen LLC bought a new stake in shares of Capri during the 1st quarter valued at about $5,139,000. Entropy Technologies LP acquired a new stake in Capri during the first quarter worth about $247,000. Invesco Ltd. grew its holdings in Capri by 3.1% in the first quarter. Invesco Ltd. now owns 386,555 shares of the company's stock valued at $7,627,000 after purchasing an additional 11,627 shares during the period. Pinpoint Asset Management Ltd purchased a new position in Capri during the first quarter worth approximately $530,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Capri by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,070,258 shares of the company's stock valued at $21,116,000 after buying an additional 66,173 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Capri Stock Performance

Shares of Capri stock traded up $0.0190 during mid-day trading on Monday, hitting $21.5090. 660,013 shares of the stock were exchanged, compared to its average volume of 3,637,535. Capri Holdings Limited has a 12 month low of $11.86 and a 12 month high of $43.34. The company has a 50-day simple moving average of $18.94 and a 200 day simple moving average of $18.49. 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 company has a market capitalization of $2.56 billion, a P/E ratio of -2.28, a P/E/G ratio of 0.46 and a beta of 1.72.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings data 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. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $773.18 million. During the same period in the previous year, the business earned $0.04 EPS. Capri's revenue was down 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal 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.