Pinpoint Asset Management Ltd Acquires Shares of 26,881 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 stake in Capri Holdings Limited (NYSE:CPRI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 26,881 shares of the company's stock, valued at approximately $530,000.

Several other hedge funds also recently modified their holdings of the business. LPL Financial LLC raised its holdings in shares of Capri by 49.7% in the fourth quarter. LPL Financial LLC now owns 119,515 shares of the company's stock valued at $2,517,000 after purchasing an additional 39,685 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Capri by 23.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 19,389 shares of the company's stock worth $408,000 after purchasing an additional 3,705 shares during the period. Trexquant Investment LP bought a new position in Capri during the fourth quarter worth $269,000. Aster Capital Management DIFC Ltd bought a new position in Capri during the fourth quarter worth $74,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Capri by 42.4% during the fourth quarter. Federated Hermes Inc. now owns 18,209 shares of the company's stock worth $383,000 after buying an additional 5,420 shares in the last quarter. Institutional investors own 84.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CPRI. JPMorgan Chase & Co. boosted their price target on Capri from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. UBS Group boosted their price target on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday. Wall Street Zen upgraded Capri from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $22.00 target price (up from $20.00) on shares of Capri in a report on Wednesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $23.33.

Capri Stock Performance

Shares of Capri stock traded down $0.35 during trading on Monday, hitting $19.35. 1,237,904 shares of the company's stock traded hands, compared to its average volume of 3,676,521. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34. The stock has a market capitalization of $2.28 billion, a P/E ratio of -2.06, a PEG ratio of 0.42 and a beta of 1.72. The business has a 50-day simple moving average of $18.30 and a 200-day simple moving average of $18.75.

Capri (NYSE:CPRI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.50 EPS 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 analysts' expectations of $773.18 million. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%. The firm's revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, analysts forecast that Capri Holdings Limited will post 0.98 EPS for the current 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.