Junto Capital Management LP Sells 266,390 Shares of Capri Holdings Limited $CPRI

Key Points

• Junto Capital Management LP reduced its stake in Capri Holdings Limited by 21.5% in the 1st quarter, selling a total of 266,390 shares, leaving them with 0.83% ownership valued at approximately $19.2 million.
• Capri reported $0.50 earnings per share in its latest quarter, significantly exceeding analyst expectations of $0.13, despite a negative net margin of 26.73% and revenue decline of 6% year-over-year.
• Analysts' ratings have varied, with UBS Group lifting its price target from $18 to $23, while JPMorgan Chase upgraded their rating to "overweight" with a price objective raised to $30.

Junto Capital Management LP cut its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 973,473 shares of the company's stock after selling 266,390 shares during the period. Junto Capital Management LP owned about 0.83% of Capri worth $19,207,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CPRI. American Century Companies Inc. boosted its position in Capri by 143.3% during the first quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock valued at $40,247,000 after buying an additional 1,201,488 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Capri by 72.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,595,029 shares of the company's stock valued at $54,647,000 after acquiring an additional 1,088,051 shares during the last quarter. DME Capital Management LP raised its stake in shares of 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 acquiring an additional 1,017,072 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Capri during the first quarter valued at about $17,559,000. Finally, Vision One Management Partners LP bought a new position in shares of Capri during the fourth quarter valued at about $17,306,000. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Capri Stock Performance

CPRI traded up $0.47 during trading on Wednesday, hitting $21.06. The company's stock had a trading volume of 1,867,331 shares, compared to its average volume of 3,592,988. 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 Holdings Limited has a one year low of $11.86 and a one year high of $43.34. The firm has a market cap of $2.51 billion, a PE ratio of -2.24, a P/E/G ratio of 0.44 and a beta of 1.75. The business's 50 day simple moving average is $19.52 and its 200-day simple moving average is $18.46.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings results 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. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $773.18 million. During the same period last year, the firm earned $0.04 earnings per share. The company's quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Capri Holdings Limited will post 0.98 EPS for the current fiscal year.

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.