Capri (NYSE:CPRI – Get Free Report) had its target price dropped by analysts at Wells Fargo & Company from $20.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 4.19% from the company’s current price.
Other analysts have also recently issued reports about the company. Barclays lowered their price target on Capri from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Bank of America reduced their price objective on shares of Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. UBS Group decreased their price objective on shares of Capri from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Telsey Advisory Group lowered their target price on shares of Capri from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, May 28th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $22.00 target price on shares of Capri in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Capri currently has a consensus rating of “Hold” and an average target price of $24.50.
Read Our Latest Analysis on Capri
Capri Price Performance
Capri (NYSE:CPRI – Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The firm’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($4.90) EPS. As a group, analysts anticipate that Capri will post 2.07 earnings per share for the current year.
Insiders Place Their Bets
In other Capri news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction that occurred on Monday, June 8th. The shares were 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 hyperlink. Insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On Capri
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its position in Capri by 85.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 63,100 shares of the company’s stock valued at $1,172,000 after acquiring an additional 29,100 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Capri by 8.7% in the 2nd quarter. GAMMA Investing LLC now owns 12,274 shares of the company’s stock valued at $228,000 after purchasing an additional 987 shares during the period. Moody National Bank Trust Division raised its stake in shares of Capri by 11.0% in the 2nd quarter. Moody National Bank Trust Division now owns 80,599 shares of the company’s stock valued at $1,497,000 after purchasing an additional 7,981 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Capri by 92.6% in the first quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock valued at $48,186,000 after purchasing an additional 1,314,611 shares in the last quarter. Finally, Amundi acquired a new position in shares of Capri during the first quarter worth about $307,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.
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.
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