JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Capri (NYSE:CPRI) Stock

Key Points

• JPMorgan Chase raised its price target on Capri to $31 and kept an "overweight" rating, implying roughly a 56.95% upside from the current share price.
• Analysts remain mixed—MarketBeat shows a consensus "Hold" with a $25.92 average target—while Capri trades near $19.75, has a negative PE (-4.64) but recently beat quarterly EPS and revenue estimates.
• CEO John D. Idol bought 55,000 shares at about $17.98, increasing his stake, and institutional investors own over 84% of the company.

Capri (NYSE:CPRI - Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $30.00 to $31.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 56.95% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Citigroup raised shares of Capri from a "buy" rating to a "mixed" rating in a report on Tuesday, January 20th. BTIG Research reaffirmed a "buy" rating and set a $30.00 target price on shares of Capri in a research note on Friday, January 30th. The Goldman Sachs Group cut their target price on shares of Capri from $27.00 to $24.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 4th. TD Cowen reaffirmed a "buy" rating on shares of Capri in a research note on Wednesday, February 4th. Finally, Wells Fargo & Company cut their target price on shares of Capri from $27.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $25.92.

Capri Trading Down 0.6%

Capri stock traded down $0.13 during trading hours on Monday, reaching $19.75. The stock had a trading volume of 491,551 shares, compared to its average volume of 3,084,188. The stock has a market cap of $2.35 billion, a PE ratio of -4.64, a PEG ratio of 0.31 and a beta of 1.46. Capri has a 52 week low of $13.00 and a 52 week high of $28.26. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.14 and a quick ratio of 0.52. The company has a fifty day simple moving average of $19.28 and a 200-day simple moving average of $21.97.

Capri (NYSE:CPRI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.03. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $999.84 million. Capri had a negative net margin of 13.57% and a negative return on equity of 430.23%. The company's revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Analysts forecast that Capri will post 0.98 EPS for the current fiscal year.

Insider Transactions at Capri

In other news, CEO John D. Idol bought 55,000 shares of the firm's stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $17.98 per share, with a total value of $988,900.00. Following the completion of the acquisition, the chief executive officer owned 2,257,645 shares of the company's stock, 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vontobel Holding Ltd. raised its holdings in shares of Capri by 105.6% during the third quarter. Vontobel Holding Ltd. now owns 127,029 shares of the company's stock valued at $2,530,000 after purchasing an additional 65,259 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Capri during the fourth quarter valued at approximately $13,527,000. Federated Hermes Inc. raised its holdings in shares of Capri by 107.1% during the third quarter. Federated Hermes Inc. now owns 719,109 shares of the company's stock valued at $14,325,000 after purchasing an additional 371,903 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Capri by 1,363.5% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,053 shares of the company's stock valued at $1,475,000 after purchasing an additional 68,993 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Capri during the third quarter valued at approximately $2,173,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

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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