Capri Holdings Limited $CPRI Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC has reduced its stake in Capri Holdings Limited (NYSE:CPRI) by 11.4%, after selling 13,588 shares in Q1, leaving it with a remaining 105,927 shares valued at approximately $2.09 million.
• Capri Holdings reported $0.50 earnings per share for the last quarter, significantly exceeding analysts' expectations of $0.13, although the company's revenue declined 6.0% compared to the prior year.
• Several analysts have updated their ratings on Capri, with Telsey Advisory Group and JPMorgan Chase & Co. both raising their price targets, reflecting a consensus target price of $24.08 and an average rating of "Hold" among research analysts.

LPL Financial LLC decreased its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,927 shares of the company's stock after selling 13,588 shares during the period. LPL Financial LLC owned approximately 0.09% of Capri worth $2,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Capri by 758.1% in the first quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock worth $28,000 after buying an additional 1,266 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Capri in the first quarter worth about $30,000. UMB Bank n.a. boosted its position in shares of Capri by 134.9% in the first quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock worth $35,000 after buying an additional 1,020 shares during the period. Fifth Third Bancorp boosted its holdings in Capri by 139.6% in the first quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock valued at $46,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Capri by 58.9% in the fourth quarter. Sterling Capital Management LLC now owns 6,872 shares of the company's stock valued at $145,000 after purchasing an additional 2,546 shares during the last quarter. Hedge funds and other institutional investors own 84.34% of the company's stock.

Analyst Upgrades and Downgrades

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

Capri Stock Up 5.2%

NYSE CPRI traded up $1.0640 on Friday, hitting $21.4840. 2,960,824 shares of the stock traded hands, compared to its average volume of 3,748,831. The stock has a 50-day moving average of $18.94 and a 200 day moving average of $18.53. Capri Holdings Limited has a twelve month low of $11.86 and a twelve month high of $43.34. The company has a market capitalization of $2.56 billion, a P/E ratio of -2.28, a price-to-earnings-growth ratio of 0.44 and a beta of 1.72. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.37. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%.The firm had revenue of $797.00 million for the quarter, compared to analysts' expectations of $773.18 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Capri's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, analysts expect that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

About Capri

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.