A number of other brokerages also recently weighed in on CPRI. Robert W. Baird lowered their price target on Capri from $85.00 to $75.00 and set an outperform rating on the stock in a research report on Thursday, June 2nd. Barclays upped their target price on Capri from $66.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, August 11th. Wells Fargo & Company decreased their target price on Capri from $85.00 to $70.00 and set an overweight rating on the stock in a research report on Thursday, July 7th. The Goldman Sachs Group decreased their target price on Capri from $69.00 to $59.00 and set a buy rating on the stock in a research report on Thursday, July 21st. Finally, Telsey Advisory Group reaffirmed a market perform rating on shares of Capri in a research report on Thursday, May 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $70.50.
Capri Price Performance
NYSE:CPRI opened at $44.49 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.51 and a current ratio of 1.29. The stock’s 50-day simple moving average is $48.35 and its 200 day simple moving average is $48.17. The company has a market cap of $6.35 billion, a P/E ratio of 8.32, a P/E/G ratio of 0.67 and a beta of 2.25. Capri has a 52-week low of $36.90 and a 52-week high of $72.37.
Capri announced that its board has authorized a stock repurchase program on Wednesday, June 1st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Insiders Place Their Bets
In other Capri news, Director Judy Gibbons sold 4,920 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $48.88, for a total transaction of $240,489.60. Following the completion of the sale, the director now directly owns 24,620 shares in the company, valued at $1,203,425.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CPRI. TD Asset Management Inc. increased its holdings in shares of Capri by 104.5% during the fourth quarter. TD Asset Management Inc. now owns 81,489 shares of the company’s stock worth $5,289,000 after buying an additional 41,637 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Capri during the fourth quarter worth $813,000. Allianz Asset Management GmbH increased its holdings in shares of Capri by 0.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,264,111 shares of the company’s stock worth $82,053,000 after buying an additional 10,200 shares in the last quarter. PFS Investments Inc. acquired a new position in shares of Capri during the fourth quarter worth $887,000. Finally, Level Four Advisory Services LLC acquired a new position in shares of Capri during the fourth quarter worth $685,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.
Capri Company Profile
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.
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