Capri (NYSE:CPRI) Price Target Lowered to $22.00 at JPMorgan Chase & Co.

Capri (NYSE:CPRI) had its price target cut by analysts at JPMorgan Chase & Co. from $29.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 34.43% from the company’s current price.

Several other equities analysts have also recently commented on CPRI. BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of Capri in a research note on Thursday, May 28th. UBS Group dropped their target price on Capri from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Robert W. Baird decreased their price target on Capri from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. Weiss Ratings upgraded Capri from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Finally, Barclays decreased their target price on Capri from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.33.

Capri Stock Performance

Shares of CPRI stock opened at $16.36 on Tuesday. Capri has a 12-month low of $15.19 and a 12-month high of $28.26. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.29 and a beta of 1.41. The business has a 50 day simple moving average of $18.25 and a 200 day simple moving average of $19.35.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $796.00 million for the quarter, compared to the consensus estimate of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.90) EPS. On average, equities research analysts anticipate that Capri will post 2.06 EPS for the current year.

Insider Activity at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Capri

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Capri by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 11,701,832 shares of the company’s stock worth $285,525,000 after buying an additional 121,209 shares during the period. State Street Corp boosted its holdings in shares of Capri by 19.3% in the second quarter. State Street Corp now owns 4,479,231 shares of the company’s stock worth $79,282,000 after buying an additional 724,967 shares during the period. Segall Bryant & Hamill LLC increased its position in shares of Capri by 92.6% in the first quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock worth $48,186,000 after acquiring an additional 1,314,611 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Capri during the fourth quarter valued at approximately $53,759,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Capri by 34.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,165,618 shares of the company’s stock valued at $38,154,000 after acquiring an additional 557,955 shares during the period. Institutional investors and hedge funds 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.