PNC Financial Services Group Inc. Boosts Stake in Capri Holdings Limited (NYSE:CPRI)

PNC Financial Services Group Inc. raised its position in Capri Holdings Limited (NYSE:CPRI) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,320 shares of the company’s stock after purchasing an additional 667 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Capri were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRI. Invesco Ltd. increased its position in shares of Capri by 67.2% during the fourth quarter. Invesco Ltd. now owns 374,928 shares of the company’s stock worth $7,896,000 after acquiring an additional 150,752 shares during the period. Raymond James Financial Inc. acquired a new stake in Capri in the fourth quarter valued at approximately $2,167,000. Sterling Capital Management LLC boosted its stake in Capri by 58.9% in the fourth quarter. Sterling Capital Management LLC now owns 6,872 shares of the company’s stock valued at $145,000 after acquiring an additional 2,546 shares in the last quarter. Bridgewater Associates LP boosted its stake in Capri by 13.6% in the fourth quarter. Bridgewater Associates LP now owns 49,413 shares of the company’s stock valued at $1,041,000 after acquiring an additional 5,919 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Capri by 24.0% in the fourth quarter. NewEdge Advisors LLC now owns 15,990 shares of the company’s stock valued at $337,000 after acquiring an additional 3,091 shares in the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Trading Down 1.8%

Shares of Capri stock opened at $20.97 on Friday. The company has a debt-to-equity ratio of 3.97, a current ratio of 1.17 and a quick ratio of 0.61. The firm has a fifty day moving average price of $18.64 and a 200 day moving average price of $18.63. Capri Holdings Limited has a 1 year low of $11.86 and a 1 year high of $43.34. The stock has a market cap of $2.50 billion, a PE ratio of -2.23, a price-to-earnings-growth ratio of 0.44 and a beta of 1.72.

Capri (NYSE:CPRI) last issued its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.37. Capri had a negative net margin of 26.73% and a negative return on equity of 53.50%. The firm had revenue of $797.00 million during the quarter, compared to analysts’ expectations of $773.18 million. During the same quarter last year, the company posted $0.04 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts predict that Capri Holdings Limited will post 0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CPRI shares. Telsey Advisory Group restated a “market perform” rating and issued a $22.00 target price (up from $20.00) on shares of Capri in a research note on Wednesday, August 6th. UBS Group raised their target price on shares of Capri from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Capri from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Capri from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $30.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Capri presently has an average rating of “Hold” and a consensus price target of $24.08.

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.