Capri Holdings Limited (NYSE:CPRI) Sees Large Increase in Short Interest

Capri Holdings Limited (NYSE:CPRI) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 10,230,000 shares, an increase of 31.3% from the February 28th total of 7,790,000 shares. Approximately 8.9% of the company’s shares are sold short. Based on an average daily volume of 3,450,000 shares, the days-to-cover ratio is presently 3.0 days.

Capri Stock Performance

Capri stock traded down $0.36 during mid-day trading on Tuesday, reaching $19.37. 3,023,732 shares of the company’s stock were exchanged, compared to its average volume of 2,844,603. The firm has a market capitalization of $2.28 billion, a PE ratio of -2.27, a P/E/G ratio of 7.80 and a beta of 2.10. The company has a quick ratio of 0.59, a current ratio of 1.21 and a debt-to-equity ratio of 1.36. The business’s fifty day simple moving average is $22.09 and its 200 day simple moving average is $25.86. Capri has a one year low of $18.53 and a one year high of $45.70.

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. On average, sell-side analysts expect that Capri will post 0.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Capri in the third quarter valued at $224,000. Primecap Management Co. CA boosted its position in shares of Capri by 13.2% in the fourth quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company’s stock valued at $98,736,000 after acquiring an additional 547,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Capri by 76.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 321,834 shares of the company’s stock valued at $13,659,000 after purchasing an additional 139,063 shares in the last quarter. Geode Capital Management LLC increased its stake in Capri by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock worth $82,446,000 after acquiring an additional 41,009 shares during the last quarter. Finally, Rule One Partners LLC bought a new position in shares of Capri in the third quarter worth approximately $2,483,000. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Capri from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. StockNews.com upgraded shares of Capri from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Barclays cut their price objective on shares of Capri from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Guggenheim restated a “buy” rating and set a $30.00 price objective on shares of Capri in a report on Wednesday, February 12th. Finally, Citigroup raised shares of Capri from a “neutral” rating to a “buy” rating and lifted their price target for the company from $21.00 to $29.00 in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.92.

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.