Wolverine Asset Management LLC Cuts Stock Position in Capri Holdings Limited (NYSE:CPRI)

Wolverine Asset Management LLC lowered its holdings in Capri Holdings Limited (NYSE:CPRI) by 54.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,418 shares of the company’s stock after selling 35,231 shares during the period. Wolverine Asset Management LLC’s holdings in Capri were worth $973,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CPRI. Norges Bank acquired a new position in shares of Capri in the fourth quarter worth $166,766,000. Alpine Associates Management Inc. grew its stake in Capri by 0.3% during the 4th quarter. Alpine Associates Management Inc. now owns 2,447,800 shares of the company’s stock worth $122,977,000 after purchasing an additional 8,200 shares in the last quarter. TIG Advisors LLC grew its stake in Capri by 9.3% during the 4th quarter. TIG Advisors LLC now owns 1,863,562 shares of the company’s stock worth $93,625,000 after purchasing an additional 158,303 shares in the last quarter. Franklin Resources Inc. increased its holdings in Capri by 82.8% during the 4th quarter. Franklin Resources Inc. now owns 1,669,441 shares of the company’s stock worth $83,873,000 after purchasing an additional 756,425 shares during the period. Finally, PSquared Asset Management AG raised its position in Capri by 21.5% in the 4th quarter. PSquared Asset Management AG now owns 1,410,515 shares of the company’s stock valued at $64,807,000 after purchasing an additional 249,327 shares in the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup raised Capri from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $56.00 to $41.00 in a research report on Monday, June 17th. Jefferies Financial Group lowered their price target on shares of Capri from $57.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, May 30th. UBS Group reduced their price objective on shares of Capri from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $42.00 price objective on shares of Capri in a research report on Thursday, May 30th. Finally, Wells Fargo & Company dropped their target price on Capri from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Capri has an average rating of “Hold” and an average target price of $40.40.

Capri Stock Up 0.1 %

CPRI stock opened at $36.05 on Thursday. The stock has a market cap of $4.21 billion, a P/E ratio of -18.30, a PEG ratio of 5.88 and a beta of 1.97. The company has a current ratio of 0.95, a quick ratio of 0.41 and a debt-to-equity ratio of 0.79. Capri Holdings Limited has a twelve month low of $29.28 and a twelve month high of $53.06. The company’s 50 day moving average is $33.73 and its two-hundred day moving average is $37.41.

Capri (NYSE:CPRI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. Capri’s revenue was down 13.2% compared to the same quarter last year. Research analysts expect that Capri Holdings Limited will post 2.12 earnings per share for the current fiscal year.

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.