Capri (NYSE:CPRI) Hits New 52-Week Low – Here’s What Happened

Shares of Capri Holdings Limited (NYSE:CPRI) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $16.71 and last traded at $16.6990, with a volume of 1929744 shares changing hands. The stock had previously closed at $17.47.

Analyst Ratings Changes

Several analysts recently weighed in on CPRI shares. Telsey Advisory Group cut their price target on Capri from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, May 28th. Wells Fargo & Company lowered their price objective on Capri from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, May 28th. Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. cut their target price on Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th. Finally, Bank of America reduced their price target on Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.79.

Capri Price Performance

The stock has a market capitalization of $1.92 billion, a PE ratio of 14.65, a PEG ratio of 0.33 and a beta of 1.39. The firm’s fifty day moving average price is $18.81 and its two-hundred day moving average price is $20.30. The company has a quick ratio of 0.60, a current ratio of 1.21 and a debt-to-equity ratio of 4.08.

Capri (NYSE:CPRI) last issued 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 for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted ($4.90) earnings per share. On average, equities analysts predict that Capri Holdings Limited will post 2.07 earnings per share for the current year.

Insider Activity

In related news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction on Monday, June 8th. The stock was sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CPRI. Measured Wealth Private Client Group LLC grew its stake in shares of Capri by 299.7% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company’s stock valued at $27,000 after purchasing an additional 1,142 shares during the period. Quantbot Technologies LP bought a new position in shares of Capri in the 2nd quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Capri by 273.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,236 shares of the company’s stock worth $55,000 after purchasing an additional 1,638 shares during the period. MidFirst Bank purchased a new position in shares of Capri in the fourth quarter worth approximately $77,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Capri by 57.9% in the fourth quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock worth $104,000 after buying an additional 1,565 shares during the last quarter. Institutional investors own 84.34% of the company’s stock.

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.