Mitsubishi UFJ Trust & Banking Corp lifted its position in Capri Holdings Limited (NYSE:CPRI – Get Rating) by 17.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,359 shares of the company’s stock after purchasing an additional 5,371 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Capri were worth $1,450,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Professional Financial Advisors LLC purchased a new stake in shares of Capri in the second quarter valued at about $25,000. First Horizon Advisors Inc. grew its holdings in shares of Capri by 624.7% in the second quarter. First Horizon Advisors Inc. now owns 616 shares of the company’s stock valued at $25,000 after purchasing an additional 531 shares during the period. Kistler Tiffany Companies LLC purchased a new stake in shares of Capri in the second quarter valued at about $35,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Capri in the first quarter valued at about $51,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Capri in the second quarter valued at about $92,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.
Capri Stock Down 1.3 %
Shares of NYSE:CPRI opened at $52.58 on Monday. The firm’s 50 day moving average price is $44.89 and its 200 day moving average price is $45.95. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 0.65 and a beta of 2.24. Capri Holdings Limited has a fifty-two week low of $36.90 and a fifty-two week high of $72.37. The company has a quick ratio of 0.71, a current ratio of 1.63 and a debt-to-equity ratio of 0.74.
Capri announced that its board has authorized a share repurchase program on Wednesday, November 9th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 14.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insiders Place Their Bets
In other Capri news, Director Judy Gibbons sold 4,920 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $48.88, for a total transaction of $240,489.60. Following the sale, the director now owns 24,620 shares of the company’s stock, valued at $1,203,425.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
CPRI has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Capri in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Morgan Stanley lowered their target price on shares of Capri from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Barclays lowered their target price on shares of Capri to $56.00 in a research note on Wednesday, November 16th. JPMorgan Chase & Co. lowered their target price on shares of Capri from $72.00 to $70.00 in a research note on Monday, November 7th. Finally, Telsey Advisory Group lowered their target price on shares of Capri from $60.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, November 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.
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.
- Get a free copy of the StockNews.com research report on Capri (CPRI)
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