Canada Pension Plan Investment Board Decreases Stock Position in Capri Holdings Limited (NYSE:CPRI)

Canada Pension Plan Investment Board trimmed its position in Capri Holdings Limited (NYSE:CPRI) by 69.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,300 shares of the company’s stock after selling 200,000 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of Capri worth $2,954,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Capri during the second quarter valued at $928,000. XTX Topco Ltd bought a new position in shares of Capri in the 2nd quarter valued at about $529,000. Highbridge Capital Management LLC grew its position in Capri by 20.0% in the second quarter. Highbridge Capital Management LLC now owns 300,000 shares of the company’s stock worth $9,924,000 after acquiring an additional 50,000 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new stake in Capri during the second quarter valued at approximately $438,000. Finally, Blair William & Co. IL raised its position in Capri by 5.8% during the second quarter. Blair William & Co. IL now owns 6,362 shares of the company’s stock valued at $210,000 after purchasing an additional 350 shares during the period. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Capri Price Performance

CPRI opened at $38.81 on Friday. The firm has a market capitalization of $4.57 billion, a PE ratio of -19.70, a price-to-earnings-growth ratio of 6.27 and a beta of 1.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.41. The business’s 50-day moving average is $35.03 and its two-hundred day moving average is $36.56. Capri Holdings Limited has a 1 year low of $29.28 and a 1 year high of $52.88.

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

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.