Capri (NYSE:CPRI) Sees Strong Trading Volume

Shares of Capri Holdings Limited (NYSE:CPRI) saw unusually-high trading volume on Wednesday . Approximately 2,539,801 shares were traded during mid-day trading, an increase of 111% from the previous session’s volume of 1,205,002 shares.The stock last traded at $38.15 and had previously closed at $38.93.

Analysts Set New Price Targets

Several research firms have commented on CPRI. StockNews.com began coverage on shares of Capri in a research note on Saturday, April 13th. They issued a “hold” rating for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $57.00 price objective on shares of Capri in a research note on Friday, February 9th. Finally, OTR Global reiterated a “mixed” rating on shares of Capri in a research note on Wednesday. Thirteen research analysts have rated the stock with a hold rating, According to MarketBeat.com, Capri presently has an average rating of “Hold” and an average target price of $50.50.

Capri Stock Performance

The company’s 50 day moving average price is $45.10 and its 200-day moving average price is $48.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 1.06. The company has a market cap of $4.49 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 7.68 and a beta of 2.03.

Capri (NYSE:CPRI) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.54). Capri had a net margin of 3.96% and a return on equity of 25.79%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Capri Holdings Limited will post 3.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CPRI. Norges Bank purchased a new position in Capri in the 4th quarter valued at approximately $166,766,000. Alpine Associates Management Inc. purchased a new position in Capri in the 3rd quarter valued at approximately $128,347,000. Westchester Capital Management LLC bought a new position in Capri in the 3rd quarter valued at $87,352,000. PSquared Asset Management AG bought a new position in Capri in the 3rd quarter valued at $61,090,000. Finally, Segantii Capital Management Ltd bought a new position in Capri in the 3rd quarter valued at $52,347,000. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

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.