Capri (NYSE:CPRI) Price Target Lowered to $24.00 at Robert W. Baird

Capri (NYSE:CPRI) had its price target lowered by Robert W. Baird from $26.00 to $24.00 in a research report released on Monday, MarketBeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

Several other analysts have also recently commented on CPRI. JPMorgan Chase & Co. reduced their target price on shares of Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. Wells Fargo & Company dropped their price target on shares of Capri from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Bank of America cut their price target on shares of Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Barclays reduced their price objective on shares of Capri from $24.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.07.

Capri Trading Up 2.8%

NYSE:CPRI opened at $15.87 on Monday. Capri has a 12-month low of $15.19 and a 12-month high of $28.26. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The stock’s 50 day simple moving average is $18.45 and its 200-day simple moving average is $19.69. The firm has a market cap of $1.82 billion, a P/E ratio of 13.92, a PEG ratio of 0.28 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 firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $800.04 million. During the same period last year, the company earned ($4.90) earnings per share. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts anticipate that Capri will post 2.06 EPS for the current year.

Insider Activity at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Capri

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership purchased a new position in Capri in the fourth quarter valued at about $53,759,000. Norges Bank purchased a new stake in shares of Capri during the 4th quarter worth approximately $50,228,000. Cooper Creek Partners Management LLC purchased a new stake in shares of Capri during the 1st quarter worth approximately $23,784,000. Segall Bryant & Hamill LLC grew its holdings in shares of Capri by 92.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock worth $48,186,000 after acquiring an additional 1,314,611 shares during the period. Finally, State Street Corp grew its holdings in shares of Capri by 19.3% in the 2nd quarter. State Street Corp now owns 4,479,231 shares of the company’s stock worth $79,282,000 after acquiring an additional 724,967 shares during the period. Hedge funds and other institutional investors own 84.34% of the company’s stock.

About Capri

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.