Melqart Asset Management UK Ltd Buys 35,717 Shares of Capri Holdings Limited $CPRI

Melqart Asset Management UK Ltd grew its position in shares of Capri Holdings Limited (NYSE:CPRI) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 618,978 shares of the company’s stock after acquiring an additional 35,717 shares during the quarter. Capri accounts for approximately 1.5% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 25th largest holding. Melqart Asset Management UK Ltd owned about 0.52% of Capri worth $15,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CPRI. Aster Capital Management DIFC Ltd bought a new position in shares of Capri during the third quarter valued at about $39,000. Quantbot Technologies LP bought a new position in shares of Capri in the second quarter valued at approximately $39,000. Hantz Financial Services Inc. grew its holdings in shares of Capri by 57.9% in the fourth quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock valued at $104,000 after acquiring an additional 1,565 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Capri during the second quarter valued at approximately $139,000. Finally, State of Wyoming bought a new stake in Capri during the second quarter worth $173,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Telsey Advisory Group reduced their price objective 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. Barclays lowered their target price on Capri from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. cut their price target on shares of Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Bank of America reduced their price target on shares of Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Capri in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Capri has an average rating of “Hold” and an average target price of $24.79.

Capri Stock Performance

NYSE:CPRI opened at $20.77 on Wednesday. The company has a market capitalization of $2.39 billion, a P/E ratio of 18.22, a P/E/G ratio of 0.39 and a beta of 1.40. The business has a fifty day simple moving average of $19.22 and a two-hundred day simple moving average of $21.23. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. Capri Holdings Limited has a 1 year low of $16.22 and a 1 year high of $28.26.

Capri (NYSE:CPRI) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Capri had a return on equity of 664.22% and a net margin of 3.94%.The firm had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $800.04 million. During the same quarter in the prior year, the firm earned ($4.90) EPS. The business’s revenue for the quarter was down 23.1% compared to the same quarter last year. On average, analysts expect that Capri Holdings Limited will post 2.05 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 stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $19.42, for a total transaction of $349,191.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Capri Company Profile

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.