Primecap Management Co. CA Buys 547,578 Shares of Capri Holdings Limited (NYSE:CPRI)

Primecap Management Co. CA raised its stake in Capri Holdings Limited (NYSE:CPRI) by 13.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,688,333 shares of the company’s stock after acquiring an additional 547,578 shares during the period. Primecap Management Co. CA’s holdings in Capri were worth $98,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPRI. Sunbelt Securities Inc. bought a new position in Capri during the 3rd quarter valued at about $42,000. Twin Tree Management LP bought a new stake in shares of Capri during the fourth quarter worth approximately $45,000. Quarry LP bought a new stake in shares of Capri during the third quarter worth approximately $53,000. KBC Group NV raised its stake in shares of Capri by 63.9% during the fourth quarter. KBC Group NV now owns 5,039 shares of the company’s stock worth $106,000 after buying an additional 1,965 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Capri by 15.2% during the third quarter. Avior Wealth Management LLC now owns 4,033 shares of the company’s stock worth $171,000 after buying an additional 533 shares during the last quarter. 84.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Capri from $20.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, January 28th. Citigroup upgraded shares of Capri from a “neutral” rating to a “buy” rating and increased their target price for the stock from $21.00 to $29.00 in a report on Friday, January 10th. Bank of America began coverage on shares of Capri in a report on Monday, February 10th. They set a “neutral” rating and a $23.00 target price for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $23.00 price target on shares of Capri in a research report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on shares of Capri from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Capri presently has an average rating of “Hold” and an average target price of $25.92.

Capri Stock Performance

NYSE CPRI opened at $20.55 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36. The company has a market cap of $2.42 billion, a P/E ratio of -2.40, a PEG ratio of 7.80 and a beta of 2.10. The company has a fifty day simple moving average of $22.56 and a 200 day simple moving average of $26.90. Capri Holdings Limited has a 12-month low of $18.53 and a 12-month high of $46.15.

Capri (NYSE:CPRI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a positive return on equity of 12.89% and a negative net margin of 21.79%. During the same quarter in the previous year, the company earned $1.20 earnings per share. Sell-side analysts predict that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal 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.