ING Groep NV Sells 167,900 Shares of Capri Holdings Limited (NYSE:CPRI)

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 reduced its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 87.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,000 shares of the company's stock after selling 167,900 shares during the period. ING Groep NV's holdings in Capri were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRI. FMR LLC increased its stake in shares of Capri by 249.4% in the 4th quarter. FMR LLC now owns 9,987,603 shares of the company's stock valued at $210,339,000 after buying an additional 7,129,123 shares during the period. Junto Capital Management LP acquired a new stake in shares of Capri in the 4th quarter valued at $26,112,000. Dimensional Fund Advisors LP increased its stake in shares of Capri by 72.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,595,029 shares of the company's stock valued at $54,647,000 after buying an additional 1,088,051 shares during the period. DME Capital Management LP increased its stake in shares of Capri by 93.6% in the 4th quarter. DME Capital Management LP now owns 2,103,717 shares of the company's stock valued at $44,304,000 after buying an additional 1,017,072 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Capri in the 1st quarter valued at $17,559,000. 84.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CPRI shares. Robert W. Baird lowered their target price on Capri from $26.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded Capri from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company reduced their target price on Capri from $30.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Telsey Advisory Group restated a "market perform" rating and set a $22.00 target price (up previously from $20.00) on shares of Capri in a report on Wednesday. Finally, UBS Group raised their target price on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $23.33.

Capri Trading Down 5.1%

CPRI stock traded down $1.05 during midday trading on Friday, hitting $19.72. 3,469,535 shares of the company's stock were exchanged, compared to its average volume of 3,234,043. The stock's fifty day moving average price is $18.30 and its 200-day moving average price is $18.83. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.49 and a current ratio of 1.17. The company has a market cap of $2.33 billion, a PE ratio of -2.10, a price-to-earnings-growth ratio of 0.45 and a beta of 1.72. Capri Holdings Limited has a one year low of $11.86 and a one year high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last posted its 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. The firm 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 company's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. Research analysts predict that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

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.