Renaissance Technologies LLC Buys New Holdings in Capri Holdings Limited $CPRI

Key Points

• Renaissance Technologies initiated a Capri Holdings position of 436,700 shares worth approximately $7.7 million, while institutional investors collectively own 84.34% of the company.
• Capri’s latest quarterly results exceeded expectations, with earnings per share of $0.22 versus the $0.11 consensus estimate, although revenue fell 23.1% year over year to $796 million.
• Shares opened at $16.36, near their 12-month low, and analysts maintain a consensus “Hold” rating with an average price target of $23.80 after several firms lowered their targets.

Renaissance Technologies LLC purchased a new position in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 436,700 shares of the company's stock, valued at approximately $7,695,000. Renaissance Technologies LLC owned 0.37% of Capri as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Inceptionr LLC bought a new stake in shares of Capri during the first quarter valued at approximately $415,000. Sei Investments Co. raised its position in shares of Capri by 127.0% during the first quarter. Sei Investments Co. now owns 267,471 shares of the company's stock worth $4,713,000 after purchasing an additional 149,633 shares during the period. State of Wyoming lifted its holdings in shares of Capri by 178.5% in the 1st quarter. State of Wyoming now owns 19,017 shares of the company's stock worth $335,000 after purchasing an additional 12,188 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Capri by 18.9% in the 1st quarter. Cetera Investment Advisers now owns 12,288 shares of the company's stock worth $217,000 after purchasing an additional 1,955 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC grew its position in Capri by 299.7% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company's stock valued at $27,000 after purchasing an additional 1,142 shares during the period. Institutional investors own 84.34% of the company's stock.

Capri Stock Performance

Shares of CPRI opened at $16.36 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.29 and a beta of 1.41. The stock has a 50 day moving average of $18.25 and a 200 day moving average of $19.35. Capri Holdings Limited has a 12 month low of $15.19 and a 12 month high of $28.26.

Capri (NYSE:CPRI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $796.00 million for the quarter, compared to analysts' expectations of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The business's revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($4.90) earnings per share. As a group, sell-side analysts forecast that Capri Holdings Limited will post 2.06 earnings per share for the current year.

Analyst Ratings Changes

CPRI has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Capri from $20.00 to $16.00 and set an "equal weight" rating for the company in a report on Wednesday, July 15th. Raymond James Financial restated an "outperform" rating and issued a $22.00 target price on shares of Capri in a report on Thursday, May 28th. Weiss Ratings raised shares of Capri from a "sell (e+)" rating to a "sell (d)" rating in a research report on Thursday, May 28th. Barclays cut their price target on Capri from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Finally, UBS Group decreased their price objective on Capri from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Capri has a consensus rating of "Hold" and an average target price of $23.80.

Insider Activity at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction on Monday, June 8th. The stock was sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Capri 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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