Mirae Asset Global Investments Co. Ltd. increased its position in shares of Capri Holdings Limited (NYSE:CPRI – Get Rating) by 1,502.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 232,337 shares of the company's stock after buying an additional 217,841 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Capri were worth $11,939,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. acquired a new position in Capri during the 1st quarter worth approximately $51,000. City State Bank acquired a new position in Capri during the 4th quarter worth approximately $71,000. CWM LLC raised its stake in Capri by 19.9% during the 1st quarter. CWM LLC now owns 2,348 shares of the company's stock worth $121,000 after buying an additional 389 shares during the period. Wetherby Asset Management Inc. acquired a new position in Capri during the 4th quarter worth approximately $219,000. Finally, Journey Strategic Wealth LLC purchased a new stake in shares of Capri in the fourth quarter worth approximately $219,000. 85.20% of the stock is owned by institutional investors and hedge funds.
Get Capri alerts:Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Credit Suisse Group lowered their price objective on Capri from $65.00 to $56.00 and set a "neutral" rating for the company in a research note on Thursday, July 21st. Morgan Stanley lowered their price objective on Capri from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, June 3rd. Cowen lowered their price objective on Capri from $80.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, June 2nd. Barclays increased their price objective on Capri from $66.00 to $72.00 and gave the stock an "overweight" rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. increased their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat, Capri currently has an average rating of "Moderate Buy" and a consensus target price of $70.50.
Insiders Place Their Bets
In other Capri news, Director Judy Gibbons sold 4,920 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $48.88, for a total transaction of $240,489.60. Following the sale, the director now owns 24,620 shares in the company, valued at $1,203,425.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.Capri Price Performance
Shares of NYSE CPRI opened at $45.21 on Tuesday. The stock has a fifty day simple moving average of $48.42 and a two-hundred day simple moving average of $47.84. Capri Holdings Limited has a 1-year low of $36.90 and a 1-year high of $72.37. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 0.64 and a beta of 2.25. 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 (NYSE:CPRI – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.14. Capri had a return on equity of 36.51% and a net margin of 13.96%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $1.42 earnings per share. Capri's revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Capri Holdings Limited will post 6.84 earnings per share for the current year.
Capri announced that its board has initiated a stock repurchase program on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.
Capri Company 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.
Further Reading
- Get a free copy of the StockNews.com research report on Capri (CPRI)
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