Gabelli Funds LLC Sells 21,500 Shares of Capri Holdings Limited $CPRI

Key Points

• Gabelli Funds LLC has reduced its stake in Capri Holdings Limited by 36.8% in Q1, decreasing its holdings to 37,000 shares worth $730,000.
• Several institutional investors, including Mirae Asset Global Investments and Allspring Global Investments, have made new purchases in Capri, with institutional ownership now at 84.34%.
• Analysts have upgraded Capri's ratings, with Zacks and UBS raising their assessments, resulting in a consensus rating of Hold and a price target of $24.08.

Gabelli Funds LLC reduced its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 36.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,000 shares of the company's stock after selling 21,500 shares during the period. Gabelli Funds LLC's holdings in Capri were worth $730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Junto Capital Management LP bought a new position in Capri during the fourth quarter worth about $26,112,000. American Century Companies Inc. raised its position in shares of Capri by 143.3% in the 1st quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock valued at $40,247,000 after acquiring an additional 1,201,488 shares during the period. Dimensional Fund Advisors LP boosted its stake in Capri by 72.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,595,029 shares of the company's stock worth $54,647,000 after acquiring an additional 1,088,051 shares during the last quarter. DME Capital Management LP grew its holdings in Capri by 93.6% during the fourth quarter. DME Capital Management LP now owns 2,103,717 shares of the company's stock valued at $44,304,000 after purchasing an additional 1,017,072 shares during the period. Finally, Jennison Associates LLC bought a new stake in Capri in the first quarter valued at approximately $17,559,000. Institutional investors own 84.34% of the company's stock.

Capri Stock Up 2.2%

Shares of CPRI stock traded up $0.47 during trading on Thursday, reaching $21.59. The company's stock had a trading volume of 1,903,178 shares, compared to its average volume of 3,582,276. Capri Holdings Limited has a one year low of $11.86 and a one year high of $43.34. The business has a fifty day moving average price of $19.60 and a 200-day moving average price of $18.48. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -2.29, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75. 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 (NYSE:CPRI - Get Free Report) last issued 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. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The firm had revenue of $797.00 million for the quarter, compared to analyst estimates of $773.18 million. During the same period in the previous year, the business earned $0.04 EPS. The company's revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that Capri Holdings Limited will post 0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPRI has been the topic of a number of recent analyst reports. Zacks Research raised shares of Capri from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised Capri from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $21.00 to $30.00 in a research note on Wednesday, August 13th. UBS Group increased their price target on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $22.00 price objective (up previously from $20.00) on shares of Capri in a report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $24.08.

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.