Jump Financial LLC Trims Stake in Capri Holdings Limited $CPRI

Key Points

• Jump Financial LLC significantly reduced its holdings in Capri Holdings Limited by 81.1% during the first quarter, owning approximately 92,568 shares worth $1,826,000 after the sale.
• Multiple hedge funds, including Primecap Management Co. and American Century Companies Inc., have increased their stakes in Capri, showcasing strong institutional support with 84.34% of the company’s stock held by such investors.
• Analysts have mixed views on Capri's stock, with UBS raising the price target from $18 to $23 and JPMorgan upgrading it to an overweight rating with a price target of $30, while the stock has an average target price of $24.08.

Jump Financial LLC decreased its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 81.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,568 shares of the company's stock after selling 397,638 shares during the period. Jump Financial LLC owned about 0.08% of Capri worth $1,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPRI. Farther Finance Advisors LLC grew its holdings in Capri by 758.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock worth $28,000 after acquiring an additional 1,266 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Capri during the 1st quarter worth approximately $30,000. Banque Cantonale Vaudoise bought a new position in Capri in the first quarter valued at approximately $29,000. UMB Bank n.a. raised its position in Capri by 134.9% during the first quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock worth $35,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Capri by 139.6% in the 1st quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock valued at $46,000 after acquiring an additional 1,365 shares during the period. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CPRI. JPMorgan Chase & Co. raised Capri from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $21.00 to $30.00 in a report on Wednesday, August 13th. Telsey Advisory Group restated a "market perform" rating and issued a $22.00 price target (up from $20.00) on shares of Capri in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Capri from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, UBS Group boosted their price objective on 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 eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $24.08.

Capri Stock Down 4.6%

NYSE CPRI traded down $0.99 during trading hours on Monday, reaching $20.58. 2,965,934 shares of the company's stock traded hands, compared to its average volume of 3,609,767. The firm has a 50-day simple moving average of $19.37 and a 200 day simple moving average of $18.46. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. The firm has a market cap of $2.45 billion, a PE ratio of -2.19, a PEG ratio of 0.44 and a beta of 1.75. Capri Holdings Limited has a 52-week low of $11.86 and a 52-week high of $43.34.

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