Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 249,958 Shares of Capri Holdings Limited $CPRI

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS sharply reduced its Capri Holdings stake in the first quarter, selling 249,958 shares and cutting its position by 89.3% to 29,857 shares worth about $526,000.
• Several other institutional investors increased their Capri holdings, and hedge funds and institutions now own 84.34% of the company’s stock, showing continued interest despite the selloff.
• Capri’s latest earnings beat estimates, with EPS of $0.22 versus $0.11 expected, but revenue fell 23.1% year over year and analysts currently view the stock cautiously, with a consensus Hold rating and $24.21 target price.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 89.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,857 shares of the company's stock after selling 249,958 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Capri were worth $526,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Capri by 70.0% in the 1st quarter. Royal Bank of Canada now owns 380,838 shares of the company's stock valued at $7,514,000 after purchasing an additional 156,757 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Capri by 48.8% during the first quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company's stock worth $397,000 after purchasing an additional 6,595 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Capri by 13.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company's stock worth $218,000 after purchasing an additional 1,313 shares during the period. Goldman Sachs Group Inc. increased its position in Capri by 22.4% during the first quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company's stock worth $15,084,000 after buying an additional 139,809 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Capri by 23.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company's stock worth $8,337,000 after buying an additional 80,928 shares during the last quarter. Institutional investors and hedge funds own 84.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Capri from $31.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, May 28th. Telsey Advisory Group decreased their price objective on shares of Capri from $23.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, May 28th. Bank of America dropped their price objective on shares of Capri from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, May 28th. Weiss Ratings raised shares of Capri from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, May 28th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $22.00 target price on shares of Capri in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Capri presently has an average rating of "Hold" and a consensus target price of $24.21.

Insider Activity at Capri

In related news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction on Monday, June 8th. The shares were sold at an average price of $19.42, for a total transaction of $349,191.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company's stock.

Capri Stock Performance

NYSE CPRI opened at $16.40 on Friday. The firm's 50 day simple moving average is $18.64 and its 200 day simple moving average is $20.10. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.30 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. Capri Holdings Limited has a 1 year low of $16.21 and a 1 year high of $28.26.

Capri (NYSE:CPRI - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. Capri had a net margin of 3.94% and a return on equity of 664.22%. The business had revenue of $796.00 million during the quarter, compared to the consensus estimate of $800.04 million. During the same quarter in the prior year, the firm earned ($4.90) EPS. The firm's revenue was down 23.1% compared to the same quarter last year. As a group, research analysts expect that Capri Holdings Limited will post 2.07 earnings per share for the current fiscal year.

About Capri

Capri Holdings Limited NYSE: CPRI is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company's principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand's distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.

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