Capri (NYSE:CPRI) Shares Down 6.4% – What’s Next?

Capri Holdings Limited (NYSE:CPRI)’s stock price was down 6.4% during trading on Wednesday . The company traded as low as $17.96 and last traded at $18.1850. 551,135 shares were traded during trading, a decline of 82% from the average daily volume of 3,074,980 shares. The stock had previously closed at $19.42.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays decreased their price objective on Capri from $32.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Bank of America reduced their price target on Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. Wells Fargo & Company lowered their price objective on Capri from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, May 28th. Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $22.00 target price on shares of Capri in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.79.

Capri Stock Performance

The stock has a fifty day simple moving average of $18.96 and a two-hundred day simple moving average of $20.51. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.60 and a current ratio of 1.21. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.34 and a beta of 1.39.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, May 28th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.90) EPS. Analysts forecast that Capri Holdings Limited will post 2.07 earnings per share for the current fiscal year.

Insider Activity at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Capri

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in Capri in the 4th quarter valued at about $13,527,000. M&T Bank Corp boosted its holdings in Capri by 1,288.6% in the fourth quarter. M&T Bank Corp now owns 159,185 shares of the company’s stock worth $3,884,000 after acquiring an additional 147,721 shares in the last quarter. Vanguard Group Inc. grew its stake in Capri by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 11,701,832 shares of the company’s stock valued at $285,525,000 after acquiring an additional 121,209 shares during the period. Melqart Asset Management UK Ltd bought a new stake in shares of Capri during the third quarter valued at approximately $11,619,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Capri by 74.0% during the fourth quarter. BNP Paribas Financial Markets now owns 785,600 shares of the company’s stock valued at $19,169,000 after acquiring an additional 334,107 shares in the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.