Bank of New York Mellon Corp Lowers Stake in Capri Holdings Limited (NYSE:CPRI)

Bank of New York Mellon Corp reduced its position in shares of Capri Holdings Limited (NYSE:CPRI) by 20.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,098,096 shares of the company’s stock after selling 284,953 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Capri worth $21,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRI. Farther Finance Advisors LLC lifted its holdings in Capri by 758.1% during the first quarter. Farther Finance Advisors LLC now owns 1,433 shares of the company’s stock valued at $28,000 after purchasing an additional 1,266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Capri during the first quarter valued at $30,000. UMB Bank n.a. grew its holdings in shares of Capri by 134.9% in the first quarter. UMB Bank n.a. now owns 1,776 shares of the company’s stock worth $35,000 after purchasing an additional 1,020 shares during the last quarter. Twin Tree Management LP bought a new position in shares of Capri in the fourth quarter worth about $45,000. Finally, Fifth Third Bancorp lifted its stake in Capri by 139.6% in the first quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock worth $46,000 after acquiring an additional 1,365 shares during the period. 84.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CPRI shares. Robert W. Baird cut their price target on shares of Capri from $26.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Barclays dropped their target price on Capri from $19.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on Capri from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company reduced their price objective on Capri from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered Capri from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.50.

Capri Trading Up 4.6%

Shares of CPRI opened at $19.43 on Friday. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34. The company has a current ratio of 1.14, a quick ratio of 0.49 and a debt-to-equity ratio of 3.97. The stock has a 50 day simple moving average of $17.86 and a 200-day simple moving average of $19.18. The stock has a market cap of $2.29 billion, a PE ratio of -1.95, a PEG ratio of 0.39 and a beta of 1.67.

Capri (NYSE:CPRI) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($4.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($5.12). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $989.05 million. Capri had a negative net margin of 26.61% and a negative return on equity of 39.55%. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts predict that Capri Holdings Limited will post 0.98 EPS for the current fiscal year.

Capri 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.