Wells Fargo & Company Cuts Capri (NYSE:CPRI) Price Target to $16.00

Capri (NYSE:CPRI) had its price target lowered by equities researchers at Wells Fargo & Company from $20.00 to $16.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 4.19% from the stock’s previous close.

CPRI has been the topic of a number of other reports. Raymond James Financial restated an “outperform” rating and set a $22.00 target price on shares of Capri in a report on Thursday, May 28th. UBS Group cut their price target on shares of Capri from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of Capri in a research report on Thursday, May 28th. Bank of America lowered their price objective on shares of Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.50.

Capri Stock Performance

Shares of NYSE CPRI opened at $16.70 on Wednesday. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.60 and a current ratio of 1.21. The stock has a 50 day moving average price of $18.78 and a 200 day moving average price of $20.24. The stock has a market capitalization of $1.92 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.32 and a beta of 1.39. Capri has a 52 week low of $16.63 and a 52 week high of $28.26.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. Capri had a return on equity of 664.22% and a net margin of 3.94%.The firm had revenue of $796.00 million for the quarter, compared to analyst estimates of $800.04 million. During the same quarter in the previous year, the firm earned ($4.90) EPS. The business’s quarterly revenue was down 23.1% on a year-over-year basis. Analysts predict that Capri will post 2.07 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen F. Reitman sold 17,981 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Capri by 70.0% during the first quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock worth $7,514,000 after acquiring an additional 156,757 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Capri by 48.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock worth $397,000 after purchasing an additional 6,595 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Capri by 13.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after purchasing an additional 1,313 shares during the period. Goldman Sachs Group Inc. boosted its stake in Capri by 22.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company’s stock valued at $15,084,000 after purchasing an additional 139,809 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Capri by 23.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company’s stock valued at $8,337,000 after buying an additional 80,928 shares in the last quarter. 84.34% of the stock is owned by 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.