Capri (NYSE:CPRI – Get Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.85-$6.85 for the period, compared to the consensus estimate of $6.57. The company issued revenue guidance of $5.95 billion-$5.95 billion, compared to the consensus revenue estimate of $6.08 billion.Capri also updated its Q2 2023 guidance to $1.60-$1.60 EPS.
Several equities analysts recently commented on the stock. Robert W. Baird dropped their price objective on shares of Capri from $85.00 to $75.00 and set an outperform rating for the company in a research note on Thursday, June 2nd. Citigroup dropped their price target on shares of Capri from $82.00 to $72.00 and set a buy rating for the company in a research note on Thursday, June 2nd. UBS Group dropped their price target on shares of Capri from $107.00 to $91.00 and set a buy rating for the company in a research note on Monday. Telsey Advisory Group reiterated a market perform rating on shares of Capri in a research report on Thursday, May 26th. Finally, TheStreet cut shares of Capri from a b rating to a c+ rating in a research report on Wednesday, June 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $73.68.
Shares of CPRI stock opened at $52.13 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.51 and a current ratio of 1.21. Capri has a 52-week low of $36.90 and a 52-week high of $72.37. The company has a market capitalization of $7.44 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.66 and a beta of 2.30. The business’s fifty day moving average is $47.20 and its 200 day moving average is $56.17.
Capri declared that its board has approved a share buyback plan on Wednesday, June 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, SVP Daniel Purefoy sold 1,950 shares of the firm’s stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $50.80, for a total transaction of $99,060.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John D. Idol sold 3,803 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $49.63, for a total value of $188,742.89. Following the transaction, the chief executive officer now directly owns 933,268 shares in the company, valued at $46,318,090.84. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in CPRI. Walleye Capital LLC bought a new stake in shares of Capri in the first quarter worth about $264,000. BNP Paribas Arbitrage SA grew its stake in shares of Capri by 28.5% in the first quarter. BNP Paribas Arbitrage SA now owns 155,037 shares of the company’s stock worth $7,967,000 after purchasing an additional 34,428 shares during the last quarter. MidWestOne Financial Group Inc. bought a new stake in shares of Capri in the first quarter worth about $333,000. Select Equity Group L.P. bought a new stake in shares of Capri in the first quarter worth about $21,338,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Capri by 41.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company’s stock worth $136,182,000 after purchasing an additional 782,577 shares during the last quarter. 88.46% of the stock is currently owned by hedge funds and other institutional investors.
Capri Company Profile (Get Rating)
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. The company's Versace segment offers ready-to-wear, accessories, footwear, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques; and department and specialty stores, as well as through Versace e-commerce sites.
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