Healthcare of Ontario Pension Plan Trust Fund Sells 64,609 Shares of Capri Holdings Limited $CPRI

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Capri Holdings stake by 92.2%, selling 64,609 shares and retaining 5,500 shares worth approximately $97,000. Institutional investors collectively own 84.34% of Capri.
• Capri reported quarterly EPS of $0.22, beating estimates of $0.11, but revenue fell 23.1% year over year to $796 million. The stock opened at $16.36, near its 52-week low of $15.19.
• Analyst sentiment remains mixed, with Capri carrying an average “Hold” rating and a consensus price target of $23.80; several firms recently lowered their targets, while BTIG maintained a $30 “buy” target.

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in Capri Holdings Limited (NYSE:CPRI - Free Report) by 92.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,500 shares of the company's stock after selling 64,609 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Capri were worth $97,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPRI. Arrowstreet Capital Limited Partnership purchased a new stake in Capri in the fourth quarter worth $53,759,000. Norges Bank purchased a new position in Capri during the 4th quarter valued at $50,228,000. State Street Corp raised its holdings in Capri by 19.3% in the 2nd quarter. State Street Corp now owns 4,479,231 shares of the company's stock worth $79,282,000 after purchasing an additional 724,967 shares in the last quarter. Rubric Capital Management LP bought a new position in Capri in the 4th quarter worth $16,470,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Capri by 34.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,165,618 shares of the company's stock worth $38,154,000 after purchasing an additional 557,955 shares during the period. 84.34% of the stock is currently owned by institutional investors.

Capri Price Performance

CPRI opened at $16.36 on Tuesday. The firm has a market cap of $1.88 billion, a PE ratio of 14.36, a P/E/G ratio of 0.29 and a beta of 1.41. The stock has a 50-day moving average price of $18.25 and a 200-day moving average price of $19.35. Capri Holdings Limited has a 1 year low of $15.19 and a 1 year high of $28.26. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60.

Capri (NYSE:CPRI - Get Free Report) last announced 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. The company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. Capri's revenue for the quarter was down 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.90) EPS. Sell-side analysts predict that Capri Holdings Limited will post 2.06 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen F. Reitman sold 17,981 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on CPRI shares. Bank of America cut their price objective on Capri from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, May 28th. BTIG Research reissued a "buy" rating and issued a $30.00 target price on shares of Capri in a research report on Thursday, May 28th. UBS Group lowered their target price on Capri from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. JPMorgan Chase & Co. reduced their price target on Capri from $31.00 to $29.00 and set an "overweight" rating on the stock in a research note on Thursday, May 28th. Finally, Wells Fargo & Company decreased their price objective on Capri from $20.00 to $16.00 and set an "equal weight" rating for the company in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $23.80.

Capri Company Profile

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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