Capri (NYSE:CPRI) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Capri (NYSE:CPRI) posted its quarterly earnings results on Wednesday. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11, FiscalAI reports. Capri had a negative return on equity of 430.23% and a negative net margin of 13.57%.

Capri Stock Performance

NYSE CPRI opened at $18.63 on Wednesday. The company’s fifty day moving average is $18.77 and its two-hundred day moving average is $21.56. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.14 and a quick ratio of 0.52. Capri has a 52-week low of $16.22 and a 52-week high of $28.26. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.37, a P/E/G ratio of 0.29 and a beta of 1.43.

Insider Activity at Capri

In other Capri news, CEO John D. Idol acquired 55,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $17.98 per share, for a total transaction of $988,900.00. Following the purchase, the chief executive officer owned 2,257,645 shares in the company, valued at $40,592,457.10. This represents a 2.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CPRI. Royal Bank of Canada increased its stake in shares of Capri by 70.0% in the first quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock valued at $7,514,000 after buying an additional 156,757 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Capri by 48.8% during the first quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock valued at $397,000 after purchasing an additional 6,595 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Capri by 13.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after purchasing an additional 1,313 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Capri by 22.4% during the first quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company’s stock valued at $15,084,000 after acquiring an additional 139,809 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Capri by 23.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company’s stock valued at $8,337,000 after acquiring an additional 80,928 shares during the period. Institutional investors own 84.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CPRI shares. JPMorgan Chase & Co. boosted their price objective on shares of Capri from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, April 13th. Barclays reduced their price objective on Capri from $32.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group cut their price objective on shares of Capri from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Capri in a research report on Monday, May 4th. Finally, Robert W. Baird raised shares of Capri from a “neutral” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.92.

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.