Highland Capital Management LLC Sells 750 Shares of Capri Holdings Limited (NYSE:CPRI)

Highland Capital Management LLC reduced its position in shares of Capri Holdings Limited (NYSE:CPRI) by 6.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,300 shares of the company’s stock after selling 750 shares during the period. Highland Capital Management LLC’s holdings in Capri were worth $341,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CPRI. Norges Bank bought a new position in Capri during the 4th quarter valued at about $166,766,000. Franklin Resources Inc. increased its position in Capri by 82.8% in the 4th quarter. Franklin Resources Inc. now owns 1,669,441 shares of the company’s stock valued at $83,873,000 after acquiring an additional 756,425 shares in the last quarter. Khrom Capital Management LLC acquired a new stake in Capri in the 1st quarter valued at about $17,681,000. Ruffer LLP acquired a new stake in Capri in the 4th quarter valued at about $17,450,000. Finally, P Schoenfeld Asset Management LP acquired a new stake in Capri in the 4th quarter valued at about $15,072,000. 84.34% of the stock is owned by institutional investors.

Capri Trading Up 2.1 %

Capri stock traded up $0.73 during midday trading on Friday, hitting $35.78. 1,964,862 shares of the stock were exchanged, compared to its average volume of 1,285,414. The company has a fifty day simple moving average of $33.07 and a two-hundred day simple moving average of $37.99. Capri Holdings Limited has a 52 week low of $29.28 and a 52 week high of $53.06. The stock has a market capitalization of $4.17 billion, a PE ratio of -18.16, a P/E/G ratio of 3.37 and a beta of 2.01. The company has a quick ratio of 0.44, a current ratio of 0.95 and a debt-to-equity ratio of 0.79.

Capri (NYSE:CPRI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). Capri had a positive return on equity of 22.76% and a negative net margin of 4.43%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue was down 13.2% compared to the same quarter last year. Equities research analysts anticipate that Capri Holdings Limited will post 3.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CPRI shares. UBS Group lowered their price objective on shares of Capri from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Capri from $57.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Citigroup upgraded shares of Capri from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $56.00 to $41.00 in a research report on Monday, June 17th. Finally, Wells Fargo & Company lowered their price target on shares of Capri from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.40.

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.