Wells Fargo & Company Has Lowered Expectations for Capri (NYSE:CPRI) Stock Price

Capri (NYSE:CPRI) had its target price dropped by equities researchers at Wells Fargo & Company from $20.00 to $16.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 5.24% from the company’s current price.

Other analysts have also recently issued reports about the stock. UBS Group lowered their target price on shares of Capri from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 price target on shares of Capri in a report on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Capri in a report on Thursday, May 28th. Bank of America lowered their price objective on shares of Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Finally, Telsey Advisory Group dropped their price objective on shares of Capri from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.21.

Capri Trading Up 2.3%

Shares of NYSE:CPRI opened at $16.88 on Wednesday. The business’s 50-day moving average is $18.68 and its 200 day moving average is $20.13. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. Capri has a 1 year low of $16.21 and a 1 year high of $28.26. The firm has a market capitalization of $1.94 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.30 and a beta of 1.39.

Capri (NYSE:CPRI) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. Capri had a return on equity of 664.22% and a net margin of 3.94%.The business had revenue of $796.00 million during the quarter, compared to the consensus estimate of $800.04 million. During the same quarter last year, the company earned ($4.90) earnings per share. The company’s quarterly revenue was down 23.1% on a year-over-year basis. On average, research analysts predict that Capri will post 2.07 earnings per share for the current fiscal year.

Insider Activity at Capri

In related news, Director Stephen F. Reitman sold 17,981 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Capri

Institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC lifted its stake in Capri by 299.7% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company’s stock valued at $27,000 after acquiring an additional 1,142 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Capri in the second quarter worth $39,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Capri by 273.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,236 shares of the company’s stock worth $55,000 after acquiring an additional 1,638 shares during the period. MidFirst Bank purchased a new position in shares of Capri during the fourth quarter worth $77,000. Finally, Hantz Financial Services Inc. lifted its position in Capri by 57.9% during the fourth quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock valued at $104,000 after purchasing an additional 1,565 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Company Profile

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.