Capri (NYSE:CPRI) Stock Price Down 6.4% – Here’s Why

Capri Holdings Limited (NYSE:CPRI) fell 6.4% during mid-day trading on Wednesday . The stock traded as low as $17.96 and last traded at $18.1850. 551,135 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,074,980 shares. The stock had previously closed at $19.42.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America lowered their price objective on shares of Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. BTIG Research reiterated a “buy” rating and set a $30.00 price objective on shares of Capri in a 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 report on Thursday, May 28th. Wells Fargo & Company dropped their price target on shares of Capri from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. Finally, Telsey Advisory Group cut their price target on Capri from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.79.

Capri Stock Performance

The company’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $20.51. 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 $2.06 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.34 and a beta of 1.39.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($4.90) EPS. Analysts expect that Capri Holdings Limited will post 2.07 earnings per share for the current year.

Insiders Place Their Bets

In other Capri news, Director Stephen F. Reitman sold 17,981 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Capri

Several institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership bought a new position in shares of Capri during the 4th quarter worth $53,759,000. Norges Bank bought a new stake in Capri in the 4th quarter valued at about $50,228,000. Cartenna Capital LP purchased a new position in shares of Capri in the third quarter worth about $29,382,000. Cooper Creek Partners Management LLC purchased a new position in shares of Capri in the first quarter worth about $23,784,000. Finally, Segall Bryant & Hamill LLC raised 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 valued at $48,186,000 after purchasing an additional 1,314,611 shares during the period. Institutional investors own 84.34% of the company’s stock.

About Capri

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.