Capri (NYSE:CPRI) Shares Down 5.8% – Here’s Why

Capri Holdings Limited (NYSE:CPRI) traded down 5.8% during mid-day trading on Tuesday . The company traded as low as $13.58 and last traded at $13.56. 1,845,361 shares traded hands during trading, a decline of 41% from the average session volume of 3,122,576 shares. The stock had previously closed at $14.40.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets raised Capri from a “market perform” rating to an “outperform” rating and upped their target price for the company from $25.00 to $31.00 in a research report on Monday, January 6th. Citigroup raised shares of Capri from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $29.00 in a research report on Friday, January 10th. Guggenheim reaffirmed a “buy” rating and set a $30.00 price target on shares of Capri in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on Capri from $20.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, January 28th. Finally, Barclays reduced their target price on Capri from $19.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Capri presently has an average rating of “Hold” and a consensus target price of $24.08.

Capri Stock Performance

The company has a market cap of $1.62 billion, a P/E ratio of -1.61, a PEG ratio of 7.80 and a beta of 1.77. The stock has a fifty day moving average price of $19.53 and a two-hundred day moving average price of $23.84. 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 (NYSE:CPRI) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a positive return on equity of 12.89% and a negative net margin of 21.79%. During the same period last year, the business posted $1.20 EPS. On average, equities analysts forecast that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Institutional Trading of Capri

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Capri by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 11,377,630 shares of the company’s stock valued at $239,613,000 after acquiring an additional 151,866 shares during the period. Norges Bank acquired a new position in shares of Capri during the 4th quarter valued at $58,070,000. Primecap Management Co. CA raised its stake in shares of Capri by 13.2% in the 4th quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company’s stock worth $98,736,000 after buying an additional 547,578 shares in the last quarter. Geode Capital Management LLC boosted its stake in Capri by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock valued at $82,446,000 after buying an additional 41,009 shares in the last quarter. Finally, Rule One Partners LLC acquired a new position in Capri during the third quarter worth about $2,483,000. 84.34% of the stock is currently owned by institutional investors.

Capri Company 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.