Capri Holdings Limited (NYSE:CPRI) Shares Purchased by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA increased its stake in Capri Holdings Limited by 10.6%, now holding over 5.18 million shares valued at approximately $102 million.
• Capri's quarterly earnings report showed earnings per share (EPS) of $0.50, exceeding expectations, but revenue fell by 6.0% year-over-year.
• Institutional investors own a significant portion of Capri, with 84.34% of the company's stock held by hedge funds and other institutional entities.

Primecap Management Co. CA raised its stake in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,183,720 shares of the company's stock after purchasing an additional 495,387 shares during the period. Primecap Management Co. CA owned 4.40% of Capri worth $102,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPRI. LPL Financial LLC raised its position in Capri by 49.7% during 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 period. Pictet Asset Management Holding SA raised its holdings in shares of Capri by 23.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 19,389 shares of the company's stock worth $408,000 after buying an additional 3,705 shares during the period. Trexquant Investment LP purchased a new stake in shares of Capri in the fourth quarter worth approximately $269,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Capri in the fourth quarter worth approximately $74,000. Finally, Federated Hermes Inc. raised its holdings in shares of Capri by 42.4% in 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 during the period. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Capri Stock Up 0.1%

Shares of Capri stock traded up $0.02 during trading hours on Monday, reaching $19.72. 724,225 shares of the company were exchanged, compared to its average volume of 3,672,749. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34. The stock's fifty day moving average is $18.30 and its 200 day moving average is $18.75. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.61 and a current ratio of 1.17. The firm has a market cap of $2.33 billion, a PE ratio of -2.10, a PEG ratio of 0.42 and a beta of 1.72.

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

Analysts Set New Price Targets

CPRI has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Capri from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. UBS Group increased their price objective on Capri from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday. Wall Street Zen raised Capri from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $22.00 price objective (up previously from $20.00) on shares of Capri in a research note on Wednesday, August 6th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Capri presently has an average rating of "Hold" and a consensus price target of $23.33.

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.