M&T Bank Corp Boosts Stock Holdings in Capri Holdings Limited $CPRI

Key Points

• M&T Bank Corp raised its stake in Capri by 1,288.6% in Q4 to 159,185 shares (about 0.13% of the company), valued at roughly $3.88 million.
• CEO John D. Idol bought 55,000 shares at an average price of $17.98 on March 11, increasing his holding to 2,257,645 shares (a 2.5% increase).
• Capri beat quarterly EPS and revenue estimates ($0.81 vs $0.78; $1.03B vs $999.84M) but reported a negative net margin and ROE with revenue down 4% YoY; analysts hold a consensus "Hold" rating and an average target of $25.92.

M&T Bank Corp raised its stake in Capri Holdings Limited (NYSE:CPRI - Free Report) by 1,288.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,185 shares of the company's stock after acquiring an additional 147,721 shares during the period. M&T Bank Corp owned approximately 0.13% of Capri worth $3,884,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CPRI. State Street Corp increased its holdings in shares of Capri by 19.3% in the second 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 during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Capri by 51.9% in the third quarter. Allianz Asset Management GmbH now owns 1,762,170 shares of the company's stock worth $35,102,000 after buying an additional 602,123 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Capri by 58.2% during the third quarter. Fisher Asset Management LLC now owns 1,547,997 shares of the company's stock valued at $30,836,000 after buying an additional 569,227 shares during the last quarter. Cartenna Capital LP bought a new position in Capri during the third quarter valued at approximately $29,382,000. Finally, BW Gestao de Investimentos Ltda. grew its holdings in Capri by 3.2% during the 3rd quarter. BW Gestao de Investimentos Ltda. now owns 1,267,373 shares of the company's stock valued at $25,246,000 after buying an additional 39,074 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company's stock.

Capri Stock Performance

Shares of NYSE:CPRI opened at $20.62 on Monday. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -4.84, a PEG ratio of 0.32 and a beta of 1.46. Capri Holdings Limited has a 12 month low of $14.09 and a 12 month high of $28.26. The firm's 50-day moving average is $19.28 and its 200 day moving average is $21.96. The company has a current ratio of 1.14, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07.

Capri (NYSE:CPRI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Capri had a negative net margin of 13.57% and a negative return on equity of 430.23%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.84 million. During the same quarter last year, the firm earned $0.63 earnings per share. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. Research analysts predict that Capri Holdings Limited will post 1.39 EPS for the current year.

Insider Activity

In other Capri news, CEO John D. Idol purchased 55,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average cost of $17.98 per share, with a total value of $988,900.00. Following the purchase, the chief executive officer owned 2,257,645 shares of the company's stock, valued at approximately $40,592,457.10. The trade was a 2.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.30% of the company's stock.

Analyst Ratings Changes

CPRI has been the topic of several recent research reports. Robert W. Baird raised Capri from a "neutral" rating to an "outperform" rating and set a $26.00 price objective on the stock in a report on Wednesday, February 4th. UBS Group reiterated a "neutral" rating and set a $22.00 target price on shares of Capri in a research report on Wednesday, February 4th. The Goldman Sachs Group cut their target price on shares of Capri from $27.00 to $24.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. BTIG Research restated a "buy" rating and issued a $30.00 price target on shares of Capri in a research report on Friday, January 30th. Finally, Barclays decreased their price target on shares of Capri from $32.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Capri presently has a consensus rating of "Hold" and an average target price of $25.92.

Capri 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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