DME Capital Management LP Invests $22.65 Million in Capri Holdings Limited (NYSE:CPRI)

DME Capital Management LP bought a new position in Capri Holdings Limited (NYSE:CPRI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 684,770 shares of the company’s stock, valued at approximately $22,652,000. Capri comprises about 1.1% of DME Capital Management LP’s investment portfolio, making the stock its 20th biggest holding.

Other large investors have also made changes to their positions in the company. Armistice Capital LLC lifted its position in Capri by 57.3% during the 2nd quarter. Armistice Capital LLC now owns 9,629 shares of the company’s stock worth $319,000 after buying an additional 3,507 shares in the last quarter. Samlyn Capital LLC lifted its position in Capri by 8.3% during the 2nd quarter. Samlyn Capital LLC now owns 795,258 shares of the company’s stock worth $26,307,000 after buying an additional 61,232 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Capri during the 2nd quarter worth about $182,000. Frank Rimerman Advisors LLC acquired a new position in Capri during the 2nd quarter worth about $393,000. Finally, Baupost Group LLC MA acquired a new position in Capri during the 2nd quarter worth about $33,080,000. Institutional investors own 84.34% of the company’s stock.

Capri Price Performance

NYSE CPRI opened at $38.41 on Thursday. The business has a 50 day simple moving average of $34.94 and a 200 day simple moving average of $36.55. Capri Holdings Limited has a 52-week low of $29.28 and a 52-week high of $52.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -19.50, a PEG ratio of 6.27 and a beta of 1.97.

Capri (NYSE:CPRI) last posted its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.74 earnings per share. Capri’s revenue for the quarter was down 13.2% compared to the same quarter last year. Analysts anticipate that Capri Holdings Limited will post 2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on CPRI. Jefferies Financial Group reduced their price target on shares of Capri from $57.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company cut their target price on shares of Capri from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Citigroup downgraded shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Friday, September 13th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $42.00 price target on shares of Capri in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.40.

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.