Victory Capital Management Inc. increased its stake in Capri Holdings Limited (NYSE: CPRI – Get Rating) by 32.7% in Q1, according to the company in its most recent filing with the Securities & Exchange Commission. The fund held 292,278 shares of the company after buying an additional 72,068 shares during the quarter. Victory Capital Management Inc. owned 0.20% of Capri worth $14,939,000 when it last filed with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently changed their holdings in CPRI. Senvest Management LLC increased its stake in shares of Capri by 15.7% in the fourth quarter. Senvest Management LLC now owns 5,322,498 shares of the company worth $345,483,000 after purchasing an additional 723,007 shares in the last quarter. Assenagon Asset Management SA increased its position in Capri shares by 1,404.8% during the first quarter. Assenagon Asset Management SA now owns 579,901 shares of the company valued at $29,801,000 after acquiring an additional 541,363 shares in the last quarter. Shellback Capital LP purchased a new equity stake in Capri during the fourth quarter valued at approximately $22,719,000. Braun Stacey Associates Inc. purchased a new equity stake in Capri during the first quarter valued at approximately $17,309,000. Finally, Greenlight Capital Inc. increased its position in Capri shares by 45.7% during the fourth quarter. Greenlight Capital Inc. now owns 883,000 shares of the company valued at $57,315,000 after acquiring an additional 277,000 shares in the last quarter. 88.46% of the shares are held by hedge funds and other institutional investors.
Capri price performance
NYSE:CPRI opened at $49.60 on Friday. The company has a market capitalization of $7.08 billion, a price/earnings ratio of 9.25, a P/E/G ratio of 0.64 and a beta of 2.27. Capri Holdings Limited has a 52-week low of $36.90 and a 52-week high of $72.37. The stock has a fifty-day moving average of $46.11 and a 200-day moving average of $51.16. The company has a debt ratio of 0.44, a quick ratio of 0.51 and a current ratio of 1.21.
Capri (NYSE:CPRI – Get Rating) last released its quarterly earnings data on Wednesday, June 1. The company reported earnings per share (EPS) of $1.02 for the quarter, beating the consensus estimate of $0.82 by $0.20. The company posted revenue of $1.49 billion in the quarter, compared to analysts’ estimates of $1.41 billion. Capri had a return on equity of 36.48% and a net margin of 14.54%. The company’s quarterly revenue increased 24.6% year over year. In the same quarter last year, the company earned earnings per share of $0.38. On average, research analysts expect Capri Holdings Limited to post EPS of 6.82 for the current financial year.
Capri announced that its board of directors launched a stock buyback program on Wednesday, June 1 that sees the company repurchase $1.00 billion in stock. This repurchase authorization allows the company to repurchase up to 13.8% of its shares through open market purchases. Stock buyback programs usually indicate that the management of the company believes that its stock is undervalued.
Insiders place their bets
In other Capri news, CEO John D. Idol sold 3,803 shares of Capri in a trade dated Friday, June 3. The stock was sold at an average price of $49.63, for a total transaction of $188,742.89. Following the completion of the sale, the CEO now owns 933,268 shares of the company, valued at $46,318,090.84. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Company insiders own 2.60% of the company’s shares.
Analyst upgrades and downgrades
A number of research firms have published reports on CPRI. Telsey Advisory Group reissued a “market performance” rating on Capri shares in a research report on Thursday, May 26. UBS Group reduced its target price on Capri from $91.00 to $65.00 and set a “buy” rating for the company in a research report on Friday July 15. Cowen reduced its target price on Capri from $80.00 to $70.00 and set an “outperform” rating for the company in a Thursday, June 2 research report. Citigroup lowered its price target on Capri from $82.00 to $72.00 and set a “buy” rating for the company in a Thursday, June 2 research report. Finally, Goldman Sachs Group cut its price target on Capri from $69.00 to $59.00 and set a “buy” rating for the company in a Thursday, July 21 research report. Four analysts rated the stock with a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.44.
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Capri Holdings Limited designs, markets, distributes and retails branded apparel, footwear and accessories for men and women 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, shoes, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, perfumes and home furnishings through a distribution network including boutiques, department stores and specialty stores. only through e-commerce sites.
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