Capri Holdings Limited (NYSE:CPRI) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia significantly reduced its stake in Capri Holdings by 93.3%, selling 269,590 shares, leaving it with 19,310 shares valued at about $381,000.
• Capri reported earnings per share of $0.50, surpassing analysts' expectations of $0.13, despite a negative net margin of 26.73% and revenue down 6% year-over-year.
• The current analysts' consensus rating for Capri Holdings is "Hold," with a price target averaging $23.33.

Bank of Nova Scotia cut its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 93.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,310 shares of the company's stock after selling 269,590 shares during the period. Bank of Nova Scotia's holdings in Capri were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC lifted its position in Capri by 49.7% during the fourth quarter. LPL Financial LLC now owns 119,515 shares of the company's stock valued at $2,517,000 after purchasing an additional 39,685 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Capri in the 4th quarter worth about $269,000. Federated Hermes Inc. grew its stake in Capri by 42.4% in the 4th quarter. Federated Hermes Inc. now owns 18,209 shares of the company's stock worth $383,000 after acquiring an additional 5,420 shares in the last quarter. FMR LLC increased its position in shares of Capri by 249.4% during the fourth quarter. FMR LLC now owns 9,987,603 shares of the company's stock worth $210,339,000 after acquiring an additional 7,129,123 shares during the period. Finally, Invesco Ltd. increased its position in shares of Capri by 67.2% during the fourth quarter. Invesco Ltd. now owns 374,928 shares of the company's stock worth $7,896,000 after acquiring an additional 150,752 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Stock Performance

NYSE:CPRI traded up $1.89 during trading hours on Wednesday, hitting $21.51. 3,022,667 shares of the company were exchanged, compared to its average volume of 3,682,007. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -2.29, a PEG ratio of 0.41 and a beta of 1.72. Capri Holdings Limited has a 52-week low of $11.86 and a 52-week high of $43.34. 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 company's 50 day moving average price is $18.38 and its 200-day moving average price is $18.71.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $773.18 million. During the same period in the prior year, the firm earned $0.04 EPS. The business's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts forecast that Capri Holdings Limited will post 0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CPRI. Telsey Advisory Group reaffirmed a "market perform" rating and set a $22.00 target price (up from $20.00) on shares of Capri in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised shares of Capri from a "neutral" rating to an "overweight" rating and raised their target price for the company from $21.00 to $30.00 in a research report on Wednesday. UBS Group raised their target price on shares of Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Capri from a "sell" rating to a "hold" rating in a research report on Saturday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $24.08.

Capri 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.