Capri (NYSE:CPRI) Given New $22.00 Price Target at TD Cowen

Capri (NYSE:CPRI) had its target price reduced by equities researchers at TD Cowen from $57.00 to $22.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 5.97% from the company’s current price.

A number of other equities analysts have also commented on the stock. Telsey Advisory Group decreased their price target on shares of Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday. Wells Fargo & Company dropped their price target on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. UBS Group decreased their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. cut their target price on Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Friday, September 13th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.88.

Capri Price Performance

Shares of NYSE:CPRI traded up $0.24 on Friday, hitting $20.76. The company’s stock had a trading volume of 2,541,236 shares, compared to its average volume of 2,060,439. Capri has a 1 year low of $18.70 and a 1 year high of $51.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.38. The company has a market capitalization of $2.45 billion, a PE ratio of -6.79, a PEG ratio of 3.84 and a beta of 2.05. The company has a 50-day simple moving average of $34.87 and a 200 day simple moving average of $34.28.

Institutional Trading of Capri

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Capri by 389.2% during the 3rd quarter. FMR LLC now owns 2,858,480 shares of the company’s stock valued at $121,314,000 after acquiring an additional 2,274,149 shares during the period. Baupost Group LLC MA bought a new position in Capri in the 2nd quarter worth about $33,080,000. DME Capital Management LP purchased a new stake in Capri during the 2nd quarter valued at about $22,652,000. Primecap Management Co. CA increased its stake in Capri by 14.2% during the 3rd quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock valued at $175,734,000 after purchasing an additional 515,963 shares in the last quarter. Finally, Khrom Capital Management LLC purchased a new position in Capri in the first quarter worth about $17,681,000. Hedge funds and other 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.