Northern Trust Corp Sells 16,171 Shares of Capri Holdings Limited $CPRI

Key Points

• Northern Trust Corp has reduced its stake in Capri Holdings Limited by 1.5%, selling 16,171 shares, and now holds approximately 1.1 million shares worth $21.55 million.
• Capri Holdings received several rating upgrades from analysts, including an increase in price target from JPMorgan Chase & Co. from $21.00 to $30.00.
• Despite reporting earnings of $0.50 per share that beat estimates, Capri's revenue fell by 6% year-over-year for the quarter to $797 million.

Northern Trust Corp decreased its holdings in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,092,343 shares of the company's stock after selling 16,171 shares during the period. Northern Trust Corp owned approximately 0.93% of Capri worth $21,552,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its stake in Capri by 10.6% during the first quarter. Primecap Management Co. CA now owns 5,183,720 shares of the company's stock valued at $102,275,000 after buying an additional 495,387 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Capri by 7.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,496,815 shares of the company's stock valued at $49,262,000 after buying an additional 172,360 shares during the period. DME Capital Management LP boosted its stake in 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 buying an additional 1,017,072 shares during the period. American Century Companies Inc. lifted its stake in Capri by 143.3% during the first quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock worth $40,247,000 after purchasing an additional 1,201,488 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in Capri during the fourth quarter worth about $26,112,000. Institutional investors own 84.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research raised Capri from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. raised Capri from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $21.00 to $30.00 in a research note on Wednesday, August 13th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $22.00 price target (up previously from $20.00) on shares of Capri in a research note on Wednesday, August 6th. Finally, UBS Group lifted their price target on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.08.

Capri Trading Down 4.6%

NYSE CPRI opened at $20.58 on Tuesday. Capri Holdings Limited has a 1-year low of $11.86 and a 1-year high of $43.34. The company has a current ratio of 1.17, a quick ratio of 0.61 and a debt-to-equity ratio of 3.97. The stock has a 50-day moving average of $19.45 and a 200-day moving average of $18.44. The firm has a market cap of $2.45 billion, a PE ratio of -2.19, a price-to-earnings-growth ratio of 0.44 and a beta of 1.75.

Capri (NYSE:CPRI - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $797.00 million during the quarter, compared to analyst estimates of $773.18 million. During the same quarter in the previous year, the company posted $0.04 EPS. Capri's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Capri Holdings Limited will post 0.98 EPS for the current 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.

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