Westchester Capital Management LLC Sells 865,217 Shares of Capri Holdings Limited (NYSE:CPRI)

Westchester Capital Management LLC cut its holdings in Capri Holdings Limited (NYSE:CPRI) by 70.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,957 shares of the company’s stock after selling 865,217 shares during the quarter. Westchester Capital Management LLC owned approximately 0.31% of Capri worth $15,616,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Riverwater Partners LLC purchased a new stake in shares of Capri in the 3rd quarter worth approximately $1,030,000. Primecap Management Co. CA grew its stake in shares of Capri by 14.2% in the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after acquiring an additional 515,963 shares during the last quarter. Senvest Management LLC purchased a new stake in shares of Capri in the third quarter worth $6,610,000. Anthracite Investment Company Inc. purchased a new position in shares of Capri in the 3rd quarter worth about $7,869,000. Finally, Aristides Capital LLC bought a new position in Capri in the 2nd quarter worth about $1,865,000. 84.34% of the stock is currently owned by institutional investors.

Capri Price Performance

Shares of NYSE:CPRI opened at $23.41 on Friday. Capri Holdings Limited has a twelve month low of $18.70 and a twelve month high of $51.23. The firm’s 50 day moving average price is $30.87 and its 200-day moving average price is $33.09. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $2.76 billion, a PE ratio of -7.65, a price-to-earnings-growth ratio of 5.01 and a beta of 2.05.

Analysts Set New Price Targets

CPRI has been the subject of a number of analyst reports. Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Friday, September 13th. TD Cowen reduced their price target on shares of Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Guggenheim raised Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird decreased their price target on Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Capri has an average rating of “Hold” and a consensus target price of $28.20.

Capri Company Profile

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.