Melqart Asset Management UK Ltd Acquires 35,717 Shares of Capri Holdings Limited $CPRI

Melqart Asset Management UK Ltd grew its stake in shares of Capri Holdings Limited (NYSE:CPRI) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 618,978 shares of the company’s stock after acquiring an additional 35,717 shares during the period. Capri accounts for approximately 1.5% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 25th largest holding. Melqart Asset Management UK Ltd’s holdings in Capri were worth $15,103,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its holdings in shares of Capri by 1.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 41,707 shares of the company’s stock worth $1,018,000 after buying an additional 550 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Capri by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 108,789 shares of the company’s stock valued at $1,926,000 after purchasing an additional 734 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Capri by 8.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 11,126 shares of the company’s stock valued at $271,000 after purchasing an additional 880 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Capri by 4.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,246 shares of the company’s stock valued at $403,000 after purchasing an additional 940 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Capri by 9.1% in the fourth quarter. GAMMA Investing LLC now owns 12,694 shares of the company’s stock worth $310,000 after purchasing an additional 1,061 shares during the period. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CPRI. Bank of America lowered their price objective on Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. Raymond James Financial restated an “outperform” rating and issued a $22.00 target price on shares of Capri in a research note on Thursday, May 28th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price target on shares of Capri in a report on Thursday, May 28th. JPMorgan Chase & Co. dropped their price target on Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. Finally, Telsey Advisory Group cut their price objective on Capri from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.79.

Insider Transactions at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $19.42, for a total value of $349,191.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Capri Stock Performance

Capri stock opened at $20.77 on Wednesday. The firm’s fifty day moving average price is $19.22 and its 200-day moving average price is $21.23. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.60 and a current ratio of 1.21. The stock has a market cap of $2.39 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.39 and a beta of 1.40. Capri Holdings Limited has a fifty-two week low of $16.22 and a fifty-two week high of $28.26.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11. The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.90) earnings per share. On average, equities research analysts expect that Capri Holdings Limited will post 2.05 earnings per share for the current fiscal year.

Capri Company Profile

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.