Northern Trust Corp Decreases Stock Holdings in 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 reduced its stake in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092,343 shares of the company's stock after selling 16,171 shares during the quarter. Northern Trust Corp owned about 0.93% of Capri worth $21,552,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRI. Junto Capital Management LP acquired a new stake in Capri during the 4th quarter worth $26,112,000. American Century Companies Inc. raised its stake in Capri by 143.3% during the 1st quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock worth $40,247,000 after acquiring an additional 1,201,488 shares in the last quarter. DME Capital Management LP raised its stake in Capri by 93.6% during the 4th quarter. DME Capital Management LP now owns 2,103,717 shares of the company's stock worth $44,304,000 after acquiring an additional 1,017,072 shares in the last quarter. Jennison Associates LLC acquired a new stake in Capri during the 1st quarter worth $17,559,000. Finally, Vision One Management Partners LP purchased a new position in Capri during the 4th quarter worth $17,306,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Capri Stock Performance

Shares of NYSE:CPRI traded down $0.45 during midday trading on Friday, hitting $21.32. The stock had a trading volume of 2,458,622 shares, compared to its average volume of 2,636,085. The company has a market capitalization of $2.54 billion, a PE ratio of -2.27, a P/E/G ratio of 0.46 and a beta of 1.75. The stock has a 50 day moving average price of $19.76 and a two-hundred day moving average price of $18.44. 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 Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34.

Capri (NYSE:CPRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.37. The business had revenue of $797.00 million for the quarter, compared to the consensus estimate of $773.18 million. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The business's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, equities analysts predict that Capri Holdings Limited will post 0.98 earnings per share 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.