Vanguard Group Inc. Increases Stake in Capri Holdings Limited $CPRI

Key Points

• Vanguard Group increased its stake in Capri Holdings by 1.0% in the fourth quarter, bringing its total to 11.7 million shares, or about 9.82% of the company.
• Capri’s latest quarterly results beat expectations, with EPS of $0.81 versus the $0.78 estimate and revenue of $1.03 billion above consensus, though revenue still fell 4% year over year.
• Analysts remain cautious overall: the stock has an average rating of “Hold” with an average price target of $25.92, while Capri shares were trading around $18.49 and CEO John D. Idol recently bought 55,000 shares.

Vanguard Group Inc. boosted its holdings in Capri Holdings Limited (NYSE:CPRI - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,701,832 shares of the company's stock after buying an additional 121,209 shares during the period. Vanguard Group Inc. owned approximately 9.82% of Capri worth $285,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. M&T Bank Corp raised its holdings in Capri by 1,288.6% in the fourth quarter. M&T Bank Corp now owns 159,185 shares of the company's stock valued at $3,884,000 after buying an additional 147,721 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Capri by 16.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 21,123 shares of the company's stock valued at $516,000 after buying an additional 3,042 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Capri in the fourth quarter valued at approximately $13,527,000. SG Americas Securities LLC raised its holdings in Capri by 668.8% in the fourth quarter. SG Americas Securities LLC now owns 323,273 shares of the company's stock valued at $7,888,000 after buying an additional 380,108 shares during the period. Finally, Oliver Luxxe Assets LLC purchased a new position in Capri in the fourth quarter valued at approximately $2,310,000. Hedge funds and other institutional investors own 84.34% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BTIG Research restated a "buy" rating and issued a $30.00 price target on shares of Capri in a report on Friday, January 30th. TD Cowen restated a "buy" rating on shares of Capri in a report on Wednesday, February 4th. Jefferies Financial Group assumed coverage on shares of Capri in a report on Wednesday, January 14th. They issued a "hold" rating and a $24.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Capri from $27.00 to $24.00 and set a "neutral" rating on the stock in a report on Wednesday, February 4th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $23.00 price target on shares of Capri in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $25.92.

Capri Trading Down 1.1%

CPRI opened at $18.49 on Friday. The firm has a market capitalization of $2.20 billion, a P/E ratio of -4.34, a P/E/G ratio of 0.30 and a beta of 1.43. The firm's 50 day moving average is $19.07 and its 200-day moving average is $21.91. Capri Holdings Limited has a 52-week low of $16.22 and a 52-week high of $28.26. The company has a quick ratio of 0.52, a current ratio of 1.14 and a debt-to-equity ratio of 2.07.

Capri (NYSE:CPRI - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $999.84 million. Capri had a negative net margin of 13.57% and a negative return on equity of 430.23%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. Analysts expect that Capri Holdings Limited will post 1.39 EPS for the current fiscal year.

Insider Activity

In related news, CEO John D. Idol purchased 55,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of $17.98 per share, for a total transaction of $988,900.00. Following the completion of the purchase, the chief executive officer owned 2,257,645 shares in the company, valued at approximately $40,592,457.10. This represents a 2.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company's stock.

About Capri

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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