Polar Asset Management Partners Inc. Invests $3.03 Million in Capri Holdings Limited $CPRI

Key Points

• Polar Asset Management Partners acquired 171,800 Capri Holdings shares worth approximately $3.03 million, giving it a 0.14% stake. Institutional investors and hedge funds collectively own 84.34% of CPRI.
• Capri reported quarterly EPS of $0.22, beating estimates of $0.11, but revenue fell 23.1% year over year to $796 million, slightly below expectations.
• Analyst sentiment remains mixed, with Capri carrying a consensus “Hold” rating and an average price target of $24.07; the stock recently traded near its 52-week low at $15.87.

Polar Asset Management Partners Inc. bought a new stake in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 171,800 shares of the company's stock, valued at approximately $3,027,000. Polar Asset Management Partners Inc. owned approximately 0.14% of Capri at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CPRI. Empowered Funds LLC grew its position in Capri by 3.4% during the fourth quarter. Empowered Funds LLC now owns 16,580 shares of the company's stock valued at $405,000 after buying an additional 550 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Capri by 1.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 41,707 shares of the company's stock worth $1,018,000 after acquiring an additional 550 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Capri by 14.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company's stock worth $105,000 after acquiring an additional 555 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Capri by 2.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,444 shares of the company's stock worth $431,000 after acquiring an additional 600 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Capri by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 108,789 shares of the company's stock worth $1,926,000 after acquiring an additional 734 shares in the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Capri Stock Up 2.8%

CPRI stock opened at $15.87 on Tuesday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.28 and a beta of 1.39. The firm has a 50-day simple moving average of $18.45 and a 200-day simple moving average of $19.69. The company has a quick ratio of 0.60, a current ratio of 1.21 and a debt-to-equity ratio of 4.08. Capri Holdings Limited has a 52 week low of $15.19 and a 52 week high of $28.26.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. The company's revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.90) EPS. Equities analysts forecast that Capri Holdings Limited will post 2.06 earnings per share for the current fiscal year.

Insider Activity at Capri

In other Capri news, Director Stephen F. Reitman sold 17,981 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.42, for a total transaction of $349,191.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CPRI. Barclays dropped their target price on Capri from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Telsey Advisory Group lowered their price target on Capri from $23.00 to $21.00 and set a "market perform" rating on the stock in a research report on Thursday, May 28th. Raymond James Financial reissued an "outperform" rating and issued a $22.00 price objective on shares of Capri in a report on Thursday, May 28th. Wells Fargo & Company cut their price objective on Capri from $20.00 to $16.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 15th. Finally, Bank of America reduced their target price on Capri from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Capri has an average rating of "Hold" and an average target price of $24.07.

Capri Company 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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