Pinpoint Asset Management Ltd Invests $530,000 in Capri Holdings Limited (NYSE:CPRI)

Key Points

• Pinpoint Asset Management Ltd invested $530,000 in Capri Holdings Limited, acquiring 26,881 shares in the process, marking a significant addition to the firm's portfolio.
• Capri recently reported a quarterly EPS of $0.50, which was significantly higher than analysts' expectations of $0.13, despite a 6% decline in revenue compared to the previous year.
• Recent analyst ratings for Capri Holdings include downgrades and lowered price targets, resulting in an average rating of "Hold" with a target price of $22.92.

Pinpoint Asset Management Ltd bought a new position in Capri Holdings Limited (NYSE:CPRI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 26,881 shares of the company's stock, valued at approximately $530,000.

Several other hedge funds also recently bought and sold shares of CPRI. Farther Finance Advisors LLC raised its holdings in shares of Capri by 758.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company's stock worth $28,000 after acquiring an additional 1,266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Capri during the first quarter valued at $30,000. Banque Cantonale Vaudoise purchased a new stake in Capri during the first quarter valued at $29,000. UMB Bank n.a. lifted its position in Capri by 134.9% during the first quarter. UMB Bank n.a. now owns 1,776 shares of the company's stock valued at $35,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Capri by 139.6% in the 1st quarter. Fifth Third Bancorp now owns 2,343 shares of the company's stock worth $46,000 after buying an additional 1,365 shares in the last quarter. Institutional investors own 84.34% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CPRI shares. Wells Fargo & Company decreased their target price on shares of Capri from $30.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. UBS Group boosted their price objective on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on Capri from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Telsey Advisory Group reissued a "market perform" rating and set a $22.00 price objective (up from $20.00) on shares of Capri in a research note on Wednesday. Finally, Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a research note on Saturday. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $23.33.

Capri Trading Down 5.1%

Capri stock traded down $1.05 during midday trading on Friday, reaching $19.72. The stock had a trading volume of 3,469,535 shares, compared to its average volume of 3,234,043. The company has a quick ratio of 0.49, a current ratio of 1.17 and a debt-to-equity ratio of 3.97. Capri Holdings Limited has a 52-week low of $11.86 and a 52-week high of $43.34. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -2.10, a price-to-earnings-growth ratio of 0.45 and a beta of 1.72. The company has a fifty day moving average of $18.30 and a 200 day moving average of $18.83.

Capri (NYSE:CPRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.37. The company had revenue of $797.00 million for the quarter, compared to analyst estimates of $773.18 million. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 EPS. On average, analysts anticipate that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Capri Company 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.