Hourglass Capital LLC Has $2.37 Million Stock Holdings in Capri Holdings Limited $CPRI

Key Points

• Hourglass Capital LLC increased its stake in Capri Holdings Limited by 29.4% during the second quarter, now owning 133,980 shares valued at approximately $2.37 million.
• Capri reported earnings of $0.50 per share for the last quarter, exceeding estimates, but faced a year-over-year revenue decline of 6%.
• Analysts have varying opinions on Capri's stock, with a consensus rating of "Hold" and an average target price of $24.54.

Hourglass Capital LLC boosted its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 29.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,980 shares of the company's stock after buying an additional 30,430 shares during the period. Hourglass Capital LLC owned approximately 0.11% of Capri worth $2,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its position in Capri by 53.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,160,047 shares of the company's stock valued at $20,533,000 after buying an additional 404,212 shares in the last quarter. CWM LLC increased its position in Capri by 37.2% in the 2nd quarter. CWM LLC now owns 2,360 shares of the company's stock valued at $42,000 after buying an additional 640 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Capri by 59.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,498 shares of the company's stock valued at $345,000 after buying an additional 7,232 shares in the last quarter. Vontobel Holding Ltd. increased its position in Capri by 40.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 61,770 shares of the company's stock valued at $1,093,000 after buying an additional 17,711 shares in the last quarter. Finally, Capricorn Fund Managers Ltd increased its position in Capri by 62.5% in the 2nd quarter. Capricorn Fund Managers Ltd now owns 260,000 shares of the company's stock valued at $4,602,000 after buying an additional 100,000 shares in the last quarter. 84.34% of the stock is owned by institutional investors.

Capri Trading Up 4.0%

NYSE:CPRI opened at $20.82 on Thursday. The company has a market cap of $2.48 billion, a P/E ratio of -2.21, a P/E/G ratio of 0.43 and a beta of 1.82. The stock's fifty day moving average price is $20.75 and its two-hundred day moving average price is $18.39. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.15. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61.

Capri (NYSE:CPRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.37. The firm 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 business's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 earnings per share. As a group, analysts expect that Capri Holdings Limited will post 0.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on CPRI. JPMorgan Chase & Co. raised 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 report on Wednesday, August 13th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $22.00 target price (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Capri in a report on Wednesday, October 8th. Zacks Research raised Capri from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, BTIG Research initiated coverage on Capri in a report on Tuesday. They issued a "buy" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Capri has a consensus rating of "Hold" and an average target price of $24.54.

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.

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