Parallel Advisors LLC trimmed its holdings in shares of Capri Holdings Ltd (NYSE:CPRI) by 59.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 718 shares of the company’s stock after selling 1,057 shares during the period. Parallel Advisors LLC’s holdings in Capri were worth $25,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Coastal Investment Advisors Inc. acquired a new stake in shares of Capri during the 2nd quarter worth about $31,000. Signaturefd LLC bought a new position in Capri in the first quarter valued at approximately $40,000. Destination Wealth Management acquired a new stake in shares of Capri in the second quarter valued at approximately $31,000. CSat Investment Advisory L.P. acquired a new position in Capri during the first quarter worth $46,000. Finally, CenterStar Asset Management LLC acquired a new position in Capri during the first quarter worth $49,000. Institutional investors and hedge funds own 86.86% of the company’s stock.
Shares of CPRI traded up $0.22 during trading hours on Wednesday, reaching $26.11. The stock had a trading volume of 17,360 shares, compared to its average volume of 3,930,864. The company has a current ratio of 1.03, a quick ratio of 0.42 and a debt-to-equity ratio of 1.58. The firm has a 50-day simple moving average of $32.58 and a 200 day simple moving average of $39.57. Capri Holdings Ltd has a 12 month low of $25.85 and a 12 month high of $75.25. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 5.24, a P/E/G ratio of 0.95 and a beta of 0.73.
In related news, CEO John D. Idol purchased 363,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $27.48 per share, with a total value of $9,975,240.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas Jr. Edwards bought 11,600 shares of Capri stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost 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 valued at $30,404,946 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on CPRI shares. MKM Partners lowered their target price on shares of Capri to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Credit Suisse Group lowered their target price on shares of Capri from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective (down from $54.00) on shares of Capri in a report on Thursday, August 8th. UBS Group decreased their price objective 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. Finally, Evercore ISI set a $50.00 price objective on shares of Capri and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Capri has an average rating of “Hold” and an average price target of $50.08.
Capri Company 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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