Investors Buy High Volume of Put Options on Capri (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRI) saw unusually large options trading on Wednesday. Traders acquired 16,139 put options on the stock. This is an increase of 24% compared to the average daily volume of 12,990 put options.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CPRI. StockNews.com began coverage on Capri in a research report on Saturday, April 13th. They set a “hold” rating for the company. OTR Global reissued a “mixed” rating on shares of Capri in a research report on Wednesday, April 17th. Finally, Telsey Advisory Group reduced their price target on Capri from $57.00 to $42.00 and set a “market perform” rating for the company in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Capri presently has a consensus rating of “Hold” and a consensus target price of $49.25.

Capri Stock Performance

NYSE:CPRI traded down $1.53 on Wednesday, hitting $34.98. The company’s stock had a trading volume of 2,548,755 shares, compared to its average volume of 1,323,243. The company has a current ratio of 1.06, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $44.54 and a two-hundred day moving average of $47.78. The firm has a market capitalization of $4.08 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 7.71 and a beta of 2.03. Capri has a one year low of $34.17 and a one year high of $54.52.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, February 8th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.48 billion. Capri had a return on equity of 25.79% and a net margin of 3.96%. Capri’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. Research analysts predict that Capri will post 3.8 earnings per share for the current year.

Hedge Funds Weigh In On Capri

A number of large investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Capri by 34.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,735 shares of the company’s stock worth $91,000 after acquiring an additional 440 shares during the period. Private Wealth Management Group LLC bought a new position in Capri during the 4th quarter worth $25,000. M&T Bank Corp increased its stake in Capri by 9.0% during the 3rd quarter. M&T Bank Corp now owns 8,683 shares of the company’s stock worth $457,000 after acquiring an additional 716 shares during the period. State of Michigan Retirement System increased its stake in Capri by 2.9% during the 1st quarter. State of Michigan Retirement System now owns 28,665 shares of the company’s stock worth $1,299,000 after acquiring an additional 800 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Capri by 2.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company’s stock worth $1,518,000 after acquiring an additional 900 shares during the period. Institutional investors own 84.34% of the company’s stock.

About Capri

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.