Capri Holdings Limited (NYSE:CPRI – Get Rating) saw a significant drop in short-term interest in August. As of August 31, there was short interest totaling 5,580,000 shares, down 15.5% from the total of 6,600,000 shares as of August 15. About 4.1% of the stock’s shares are sold short. Based on an average daily trading volume of 2,130,000 shares, the short interest ratio is currently 2.6 days.
Capri shares down 3.6%
NYSE: CPRI traded at $1.64 on Friday, reaching $44.49. The stock recorded a trading volume of 5,879,863 shares, compared to an average volume of 1,819,665 shares. The company has a debt ratio of 0.58, a quick ratio of 0.51 and a current ratio of 1.29. The stock has a market capitalization of $6.35 billion, a P/E ratio of 8.32, a price-to-earnings growth ratio of 0.64 and a beta of 2.25. Capri has a 1-year low of $36.90 and a 1-year high of $72.37. The company’s fifty-day simple moving average is $48.35 and its two-hundred-day simple moving average is $48.02.
Capri (NYSE:CPRI – Get Rating) last released its quarterly earnings data on Tuesday, August 9. The company reported EPS of $1.50 for the quarter, beating the consensus estimate of $1.36 by $0.14. The company posted revenue of $1.36 billion in the quarter, against analyst estimates of $1.30 billion. Capri had a net margin of 13.96% and a return on equity of 36.51%. The company’s revenue for the quarter increased 8.5% year over year. In the same quarter last year, the company posted EPS of $1.42. Analysts predict that Capri will post earnings per share of 6.84 for the current year.
Capri announced that its board of directors launched a stock buyback program on Wednesday, June 1 that allows the company to repurchase $1.00 billion in stock. This repurchase authorization authorizes the company to repurchase up to 13.8% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.
Analysts set new price targets
A number of analysts have commented on the stock. Credit Suisse Group cut its price target on Capri shares from $65.00 to $56.00 and set a “neutral” rating on the stock in a Thursday, July 21 research report. Cowen cut his price target on Capri shares from $80.00 to $70.00 and set an “outperform” rating on the stock in a Thursday, June 2 research report. Wells Fargo & Company cut its price target on Capri shares from $85.00 to $70.00 and set an “overweight” rating on the stock in a Thursday, July 7 research report. Citigroup cut its price target on Capri shares from $82.00 to $72.00 and set a “buy” rating on the stock in a Thursday, June 2 research report. Finally, Morgan Stanley cut its price target on shares of Capri from $80.00 to $65.00 and set an “overweight” rating on the stock in a Friday, June 3 research report. Four equity research analysts gave the stock a hold rating and thirteen gave the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.50.
Insider trading at Capri
In other news, Director Judy Gibbons sold 4,920 shares of the company in a trade on Monday, August 29. The shares were sold at an average price of $48.88, for a total transaction of $240,489.60. Following completion of the transaction, the administrator now directly owns 24,620 shares of the company, valued at $1,203,425.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Insiders of the company hold 2.60% of the shares of the company.
Institutional entries and exits
Several institutional investors and hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC increased its holdings in Capri by 314.1% in the second quarter. Verition Fund Management LLC now owns 10,569 shares of the company worth $433,000 after purchasing an additional 15,505 shares during the period. Prelude Capital Management LLC increased its holdings in Capri by 3.9% in the second quarter. Prelude Capital Management LLC now owns 129,428 shares of the company worth $5,308,000 after purchasing an additional 4,874 shares during the period. Captrust Financial Advisors increased its holdings in Capri by 35.5% in the second quarter. Captrust Financial Advisors now owns 12,824 shares of the company worth $526,000 after purchasing 3,363 additional shares during the period. Walleye Capital LLC increased its holdings in Capri by 131.8% in the second quarter. Walleye Capital LLC now owns 11,889 shares of the company worth $488,000 after purchasing an additional 6,759 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Capri by 6.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,827,937 shares of the company worth $115,973,000 after purchasing an additional 177,979 shares during the period. 85.20% of the shares are held by institutional investors.
Company profile Capri
(Get a rating)
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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