Capri Holdings Limited (NYSE:CPRI) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its position in Capri Holdings Limited (NYSE:CPRI) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,624,792 shares of the company’s stock after selling 209,961 shares during the quarter. Primecap Management Co. CA’s holdings in Capri were worth $119,908,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quent Capital LLC increased its position in shares of Capri by 171.8% in the first quarter. Quent Capital LLC now owns 1,120 shares of the company’s stock valued at $51,000 after buying an additional 708 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Capri by 82.4% in the first quarter. Bessemer Group Inc. now owns 1,330 shares of the company’s stock valued at $60,000 after buying an additional 601 shares in the last quarter. Vima LLC purchased a new position in shares of Capri in the fourth quarter valued at $70,000. EMC Capital Management increased its position in shares of Capri by 32.7% in the first quarter. EMC Capital Management now owns 2,421 shares of the company’s stock valued at $110,000 after buying an additional 596 shares in the last quarter. Finally, CWM LLC increased its position in shares of Capri by 35.2% in the second quarter. CWM LLC now owns 2,452 shares of the company’s stock valued at $81,000 after buying an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group dropped their price target on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Telsey Advisory Group restated a “market perform” rating and issued a $42.00 target price on shares of Capri in a report on Thursday, May 30th. Wells Fargo & Company lowered their price target on shares of Capri from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, August 9th. StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their target price on shares of Capri from $57.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.40.

Capri Price Performance

CPRI opened at $39.89 on Wednesday. Capri Holdings Limited has a 1 year low of $29.28 and a 1 year high of $52.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95. The company’s 50 day simple moving average is $34.53 and its 200 day simple moving average is $36.80. The stock has a market capitalization of $4.65 billion, a PE ratio of -20.25, a P/E/G ratio of 6.66 and a beta of 1.97.

Capri (NYSE:CPRI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.16 billion. Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 EPS. As a group, sell-side analysts expect that Capri Holdings Limited will post 2.12 EPS for the current year.

About Capri

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.