Capri Holdings Limited $CPRI Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Capri Holdings Limited by 6.6%, owning over 1 million shares valued at approximately $21.1 million.
• Capri Holdings reported earnings of $0.50 per share, significantly surpassing analysts' expectations of $0.13, alongside quarterly revenue of $797 million, which also exceeded estimates.
• Several analysts upgraded their ratings on Capri, with JPMorgan Chase raising their price objective from $21.00 to $30.00, indicating a positive outlook for the stock.

Charles Schwab Investment Management Inc. raised its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,070,258 shares of the company's stock after purchasing an additional 66,173 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.91% of Capri worth $21,116,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Capri by 758.1% in the first quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock valued at $28,000 after purchasing an additional 1,266 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Capri in the first quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Capri in the first quarter valued at approximately $30,000. UMB Bank n.a. raised its position in Capri by 134.9% in the first quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock valued at $35,000 after purchasing an additional 1,020 shares during the period. Finally, Fifth Third Bancorp raised its position in Capri by 139.6% in the first quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock valued at $46,000 after purchasing an additional 1,365 shares during the period. Hedge funds and other institutional investors own 84.34% of the company's stock.

Capri Stock Up 1.3%

Shares of CPRI stock traded up $0.29 on Wednesday, reaching $21.75. 180,427 shares of the stock were exchanged, compared to its average volume of 3,617,479. The company has a current ratio of 1.17, a quick ratio of 0.61 and a debt-to-equity ratio of 3.97. The business's 50 day moving average price is $19.12 and its 200 day moving average price is $18.51. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -2.32, a PEG ratio of 0.46 and a beta of 1.72. Capri Holdings Limited has a twelve month low of $11.86 and a twelve month high of $43.34.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised Capri from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $21.00 to $30.00 in a research report on Wednesday, August 13th. UBS Group upped their price objective on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $22.00 price objective (up previously from $20.00) on shares of Capri in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Capri has an average rating of "Hold" and an average target price 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.