Principal Financial Group Inc. Reduces Stake in Capri Holdings Limited $CPRI

Principal Financial Group Inc. decreased its holdings in Capri Holdings Limited (NYSE:CPRI) by 33.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,744 shares of the company’s stock after selling 132,601 shares during the period. Principal Financial Group Inc. owned 0.22% of Capri worth $4,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of Capri during the 2nd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Capri by 273.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,236 shares of the company’s stock worth $55,000 after acquiring an additional 1,638 shares during the last quarter. MidFirst Bank purchased a new stake in shares of Capri in the 4th quarter valued at $77,000. Hantz Financial Services Inc. raised its position in Capri by 57.9% in the 4th quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock worth $104,000 after purchasing an additional 1,565 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in Capri by 14.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company’s stock valued at $105,000 after buying an additional 555 shares during the period. Institutional investors own 84.34% of the company’s stock.

Insider Transactions at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPRI. Raymond James Financial restated an “outperform” rating and set a $22.00 target price on shares of Capri in a report on Thursday, May 28th. JPMorgan Chase & Co. cut their target price 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. Weiss Ratings upgraded shares of Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of Capri in a research report on Thursday, May 28th. Finally, Bank of America cut their target price on Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. One investment 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.07.

Capri Trading Up 3.0%

NYSE:CPRI opened at $16.35 on Wednesday. The company has a 50-day moving average price of $18.43 and a 200-day moving average price of $19.63. Capri Holdings Limited has a 12 month low of $15.19 and a 12 month high of $28.26. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.29 and a beta of 1.39.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $796.00 million during 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 business’s revenue 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. Equities analysts predict that Capri Holdings Limited will post 2.06 EPS for the current year.

Capri 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.