Capri Holdings Limited (NYSE:CPRI) Shares Sold by ING Groep NV

Key Points

• ING Groep NV significantly reduced its stake in Capri Holdings Limited by 87.5%, selling 167,900 shares, and now holds 24,000 shares valued at $474,000.
• Recent analyst ratings for Capri include a downgrade by Robert W. Baird to a "neutral" rating with a target price cut from $26.00 to $18.00, while UBS raised their target from $18.00 to $23.00, maintaining a "neutral" rating.
• Capri Holdings' stock is currently trading at $19.72 with a market cap of $2.33 billion, although it reported a year-over-year revenue decline of 6% and a negative net margin of 26.73% in its latest earnings announcement.

ING Groep NV trimmed its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 87.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,000 shares of the company's stock after selling 167,900 shares during the quarter. ING Groep NV's holdings in Capri were worth $474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CPRI. PNC Financial Services Group Inc. raised its stake in Capri by 5.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,320 shares of the company's stock valued at $243,000 after purchasing an additional 667 shares during the last quarter. US Bancorp DE grew its stake in Capri by 30.2% in the 1st quarter. US Bancorp DE now owns 4,932 shares of the company's stock worth $97,000 after acquiring an additional 1,143 shares during the period. Shufro Rose & Co. LLC purchased a new stake in Capri in the 1st quarter worth approximately $215,000. Natixis Advisors LLC boosted its stake in Capri by 0.5% in the 1st quarter. Natixis Advisors LLC now owns 436,692 shares of the company's stock worth $8,616,000 after buying an additional 2,342 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new position in shares of Capri during the 1st quarter worth about $710,000. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Capri Stock Performance

NYSE:CPRI traded down $0.12 during trading hours on Monday, reaching $19.58. 414,278 shares of the stock were exchanged, compared to its average volume of 3,670,434. The stock has a market capitalization of $2.31 billion, a P/E ratio of -2.08, a P/E/G ratio of 0.42 and a beta of 1.72. The firm has a 50 day simple moving average of $18.30 and a 200-day simple moving average of $18.75. The company has a quick ratio of 0.61, a current ratio of 1.17 and a debt-to-equity ratio of 3.97. 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 (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.37. The business had revenue of $797.00 million for the quarter, compared to analyst estimates 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 revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS. As a group, sell-side analysts forecast that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CPRI shares. JPMorgan Chase & Co. raised their price objective on Capri from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. UBS Group raised their price target on shares of Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday. Wall Street Zen upgraded shares of Capri from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $22.00 target price (up previously from $20.00) on shares of Capri in a research note on Wednesday, August 6th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Capri has an average rating of "Hold" and a consensus target price of $23.33.

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.