Graham Capital Management L.P. Reduces Position in Capri Holdings Limited $CPRI

Key Points

• Graham Capital Management L.P. reduced its stake in Capri Holdings Limited by 25.4%, selling 38,800 shares, and now holds 114,000 shares valued at approximately $2.25 million.
• Other institutional investors significantly boosted their positions in Capri during the first quarter, including Farther Finance Advisors with a 758.1% increase in stake.
• Capri's most recent quarterly results showed earnings per share of $0.50, significantly above analysts' expectations, despite a 6.0% decline in revenue year-over-year.

Graham Capital Management L.P. lowered its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 25.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,000 shares of the company's stock after selling 38,800 shares during the period. Graham Capital Management L.P. owned about 0.10% of Capri worth $2,249,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPRI. PNC Financial Services Group Inc. increased its holdings in Capri by 5.7% in 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 in the last quarter. Principal Financial Group Inc. boosted its position in shares of Capri by 0.3% in the first quarter. Principal Financial Group Inc. now owns 271,400 shares of the company's stock worth $5,355,000 after purchasing an additional 709 shares during the period. Investors Research Corp increased its stake in shares of Capri by 3.8% in the first quarter. Investors Research Corp now owns 21,669 shares of the company's stock worth $428,000 after purchasing an additional 800 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Capri by 3.1% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 30,163 shares of the company's stock worth $595,000 after purchasing an additional 905 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Capri by 134.9% during the 1st 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. Institutional investors own 84.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CPRI. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $22.00 target price (up previously from $20.00) on shares of Capri in a report on Wednesday, August 6th. UBS Group boosted their price objective on Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upgraded Capri from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $21.00 to $30.00 in a research report on Wednesday, August 13th. Zacks Research raised Capri from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Capri has an average rating of "Hold" and an average price target of $24.08.

Capri Price Performance

Shares of CPRI stock traded down $0.45 on Friday, reaching $21.32. The company's stock had a trading volume of 2,458,622 shares, compared to its average volume of 3,583,827. The stock's fifty day simple moving average is $19.68 and its 200-day simple moving average is $18.47. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -2.27, a price-to-earnings-growth ratio of 0.45 and a beta of 1.75. The company has a current ratio of 1.17, a quick ratio of 0.61 and a debt-to-equity ratio of 3.97.

Capri (NYSE:CPRI - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $797.00 million for the quarter, compared to analysts' expectations 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 for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. Analysts forecast that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Capri Company 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.