Principal Financial Group Inc. Reduces Stock Position in Capri Holdings Limited (NYSE:CPRI)

Principal Financial Group Inc. trimmed its position in Capri Holdings Limited (NYSE:CPRI) by 29.8% during the third quarter, Holdings Channel.com reports. The firm owned 272,464 shares of the company’s stock after selling 115,650 shares during the period. Principal Financial Group Inc.’s holdings in Capri were worth $11,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRI. FMR LLC lifted its position in Capri by 389.2% during the third quarter. FMR LLC now owns 2,858,480 shares of the company’s stock worth $121,314,000 after buying an additional 2,274,149 shares during the period. Baupost Group LLC MA purchased a new stake in Capri in the 2nd quarter valued at about $33,080,000. DME Capital Management LP acquired a new position in shares of Capri during the 2nd quarter valued at about $22,652,000. Oddo BHF Asset Management Sas purchased a new position in shares of Capri during the 3rd quarter worth about $25,888,000. Finally, Primecap Management Co. CA boosted its position in shares of Capri by 14.2% in the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after acquiring an additional 515,963 shares during the last quarter. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Capri Stock Down 1.1 %

Shares of NYSE:CPRI opened at $20.96 on Monday. Capri Holdings Limited has a 1-year low of $18.70 and a 1-year high of $51.23. The company’s fifty day moving average is $22.95 and its two-hundred day moving average is $31.27. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -6.85, a price-to-earnings-growth ratio of 4.55 and a beta of 2.05.

Analyst Ratings Changes

Several research analysts recently weighed in on CPRI shares. Guggenheim raised Capri from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, November 26th. UBS Group reduced their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. TD Cowen dropped their target price on shares of Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on shares of Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.90.

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.