Saba Capital Management L.P. Acquires Shares of 68,805 Capri Holdings Limited (NYSE:CPRI)

Saba Capital Management L.P. acquired a new position in Capri Holdings Limited (NYSE:CPRI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 68,805 shares of the company's stock, valued at approximately $1,449,000. Saba Capital Management L.P. owned approximately 0.06% of Capri at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CPRI. Vanguard Group Inc. boosted its position in shares of Capri by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 11,377,630 shares of the company's stock valued at $239,613,000 after purchasing an additional 151,866 shares in the last quarter. FMR LLC raised its holdings in shares of Capri by 249.4% in the 4th quarter. FMR LLC now owns 9,987,603 shares of the company's stock worth $210,339,000 after purchasing an additional 7,129,123 shares in the last quarter. Primecap Management Co. CA lifted its stake in Capri by 13.2% during the fourth quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company's stock valued at $98,736,000 after purchasing an additional 547,578 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Capri by 22,554.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,902,960 shares of the company's stock worth $82,196,000 after buying an additional 3,885,732 shares in the last quarter. Finally, Norges Bank acquired a new position in Capri in the fourth quarter worth approximately $58,070,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Capri Stock Performance

Capri stock traded down $0.92 during trading hours on Wednesday, hitting $17.30. The company had a trading volume of 2,615,955 shares, compared to its average volume of 3,229,699. The firm has a market cap of $2.04 billion, a PE ratio of -2.02, a PEG ratio of 7.80 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.21 and a quick ratio of 0.59. Capri Holdings Limited has a one year low of $11.86 and a one year high of $43.34. The firm has a 50-day moving average of $16.79 and a 200 day moving average of $20.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays reduced their price objective on Capri from $19.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Robert W. Baird dropped their price target on Capri from $26.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group boosted their price objective on Capri from $20.00 to $23.00 and gave the stock a "hold" rating in a report on Tuesday, January 28th. Bank of America started coverage on shares of Capri in a report on Monday, February 10th. They issued a "neutral" rating and a $23.00 target price for the company. Finally, Telsey Advisory Group dropped their target price on shares of Capri from $23.00 to $17.00 and set a "market perform" rating on the stock in a research report on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Capri has a consensus rating of "Hold" and a consensus price target of $24.08.

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.