Meeder Asset Management Inc. Reduces Position in Capri Holdings Ltd (NYSE:CPRI)

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Meeder Asset Management Inc. cut its holdings in shares of Capri Holdings Ltd (NYSE:CPRI) by 26.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,270 shares of the company’s stock after selling 7,840 shares during the period. Meeder Asset Management Inc.’s holdings in Capri were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC purchased a new position in Capri during the 4th quarter worth $89,438,000. Louisiana State Employees Retirement System purchased a new position in shares of Capri in the 1st quarter worth about $371,000. Retirement Systems of Alabama purchased a new position in shares of Capri in the 1st quarter worth about $3,251,000. New Mexico Educational Retirement Board purchased a new position in shares of Capri in the 1st quarter worth about $572,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Capri in the 1st quarter worth about $389,000. 86.86% of the stock is currently owned by institutional investors.

In related news, CEO John D. Idol purchased 363,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $27.48 per share, for a total transaction of $9,975,240.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Jr. Edwards purchased 11,600 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were bought at an average price of $34.41 per share, for a total transaction of $399,156.00. The disclosure for this purchase can be found here. Insiders purchased a total of 989,600 shares of company stock worth $30,404,946 over the last 90 days. 5.30% of the stock is currently owned by company insiders.

CPRI has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Capri from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Nomura cut their price target on shares of Capri from $76.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. ValuEngine downgraded shares of Capri from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 24th. Canaccord Genuity reissued a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of Capri in a report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Argus initiated coverage on shares of Capri in a report on Wednesday, June 12th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Capri presently has a consensus rating of “Hold” and a consensus target price of $50.08.

Shares of Capri stock opened at $27.92 on Thursday. Capri Holdings Ltd has a 52-week low of $26.61 and a 52-week high of $75.96. The stock’s 50-day simple moving average is $33.52 and its 200 day simple moving average is $40.09. The stock has a market capitalization of $4.33 billion, a P/E ratio of 5.62, a P/E/G ratio of 1.02 and a beta of 0.73. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.42 and a current ratio of 1.03.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. Capri had a return on equity of 30.29% and a net margin of 7.45%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business posted $1.32 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Capri Holdings Ltd will post 4.9 EPS for the current fiscal year.

Capri Profile

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Institutional Ownership by Quarter for Capri (NYSE:CPRI)

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