Gabelli Funds LLC Has $730,000 Stock Position in 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 trimmed its holdings in Capri Holdings Limited (NYSE:CPRI - Free Report) by 36.8% in the first quarter, according to the company in its most recent Form 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 hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Capri by 5.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,320 shares of the company's stock worth $243,000 after acquiring an additional 667 shares during the period. Principal Financial Group Inc. increased its stake in shares of Capri by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 271,400 shares of the company's stock valued at $5,355,000 after purchasing an additional 709 shares during the last quarter. Investors Research Corp increased its stake in shares of Capri by 3.8% in the 1st quarter. Investors Research Corp now owns 21,669 shares of the company's stock valued at $428,000 after purchasing an additional 800 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Capri by 3.1% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,163 shares of the company's stock worth $595,000 after acquiring an additional 905 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Capri by 134.9% during the 1st quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock worth $35,000 after acquiring an additional 1,020 shares during the last quarter. 84.34% of the stock is owned by institutional investors and hedge funds.

Capri Trading Down 0.2%

Shares of NYSE:CPRI traded down $0.05 during midday trading on Friday, reaching $21.71. The company's stock had a trading volume of 903,501 shares, compared to its average volume of 3,574,313. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -2.31, a PEG ratio of 0.45 and a beta of 1.75. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.61 and a current ratio of 1.17. The firm has a 50 day moving average price of $19.68 and a two-hundred day moving average price of $18.47. Capri Holdings Limited has a fifty-two week low of $11.86 and a fifty-two week high of $43.34.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Capri from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $21.00 to $30.00 in a research report on Wednesday, August 13th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $22.00 target price (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. Zacks Research raised Capri from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group lifted their target price on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company 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.