Nkcfo LLC reduced its position in shares of Capri Holdings Limited (NYSE:CPRI – Get Rating) by 96.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,045 shares of the company's stock after selling 54,275 shares during the period. Nkcfo LLC's holdings in Capri were worth $84,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Capri by 41.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company's stock worth $136,182,000 after buying an additional 782,577 shares during the period. Assenagon Asset Management S.A. boosted its stake in Capri by 1,404.8% during the first quarter. Assenagon Asset Management S.A. now owns 579,901 shares of the company's stock worth $29,801,000 after buying an additional 541,363 shares during the period. Select Equity Group L.P. purchased a new position in Capri during the first quarter worth about $21,338,000. Clark Capital Management Group Inc. purchased a new position in Capri during the first quarter worth about $20,887,000. Finally, AGF Investments Inc. boosted its stake in Capri by 85.7% during the first quarter. AGF Investments Inc. now owns 790,000 shares of the company's stock worth $40,598,000 after buying an additional 364,687 shares during the period. 85.20% of the stock is currently owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
CPRI has been the subject of several research analyst reports. Robert W. Baird lowered their target price on shares of Capri from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Thursday, June 2nd. Cowen lowered their price objective on shares of Capri from $80.00 to $70.00 in a research note on Thursday, June 2nd. TheStreet lowered shares of Capri from a "b" rating to a "c+" rating in a research note on Wednesday, June 1st. Wells Fargo & Company lowered their price objective on shares of Capri from $85.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, July 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Capri from $65.00 to $72.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Capri presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.
Insider Activity
In other news, Director Judy Gibbons sold 4,920 shares of Capri stock in a transaction on Monday, August 29th. The shares were sold at an average price of $48.88, for a total value of $240,489.60. Following the transaction, the director now directly owns 24,620 shares of the company's stock, valued at approximately $1,203,425.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company's stock.
Capri Stock Down 3.6 %
CPRI stock opened at $44.49 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.51 and a debt-to-equity ratio of 0.58. Capri Holdings Limited has a twelve month low of $36.90 and a twelve month high of $72.37. The company's 50 day moving average is $48.35 and its two-hundred day moving average is $48.17. The stock has a market cap of $6.35 billion, a P/E ratio of 8.32, a PEG ratio of 0.67 and a beta of 2.25.
Capri (NYSE:CPRI – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.14. Capri had a net margin of 13.96% and a return on equity of 36.51%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect that Capri Holdings Limited will post 6.84 earnings per share for the current fiscal year.
Capri declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Capri Profile
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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.
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