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

Capri Holdings Limited (NYSE:CPRI)’s stock price fell 5.8% during trading on Tuesday . The stock traded as low as $13.58 and last traded at $13.56. 1,845,361 shares changed 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.

Analyst Upgrades and Downgrades

CPRI has been the subject of several research analyst reports. Telsey Advisory Group decreased their price objective on shares of Capri from $23.00 to $17.00 and set a “market perform” rating for the company in a research note on Friday, April 11th. Barclays cut their price target on Capri from $19.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Bank of America began coverage on shares of Capri in a research report on Monday, February 10th. They set a “neutral” rating and a $23.00 target price on the stock. Citigroup upgraded shares of Capri from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $29.00 in a research report on Friday, January 10th. Finally, StockNews.com raised shares of Capri from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.08.

Capri Stock Up 3.5 %

The company has a market cap of $1.62 billion, a PE ratio of -1.61, a P/E/G ratio of 7.80 and a beta of 1.77. The firm has a 50-day simple moving average of $19.53 and a two-hundred day simple moving average 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 released its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $1.20 EPS. Research analysts anticipate that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Institutional Trading of Capri

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MML Investors Services LLC increased its holdings in Capri by 49.6% in the 3rd quarter. MML Investors Services LLC now owns 18,443 shares of the company’s stock valued at $783,000 after purchasing an additional 6,112 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Capri by 21.5% during the 3rd quarter. M&T Bank Corp now owns 8,419 shares of the company’s stock valued at $357,000 after buying an additional 1,488 shares during the period. Geode Capital Management LLC lifted its position in Capri by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock worth $82,446,000 after acquiring an additional 41,009 shares in the last quarter. Rule One Partners LLC acquired a new stake in Capri in the third quarter valued at approximately $2,483,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Capri during the third quarter valued at approximately $25,888,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.