Capri (NYSE:CPRI) Sees Strong Trading Volume – Here’s What Happened

Capri Holdings Limited (NYSE:CPRI) shares saw an uptick in trading volume on Wednesday . 1,899,525 shares were traded during trading, an increase of 3% from the previous session’s volume of 1,846,332 shares.The stock last traded at $21.23 and had previously closed at $20.52.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group reduced their price target on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their target price on shares of Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company decreased their price target on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Citigroup lowered Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Friday, September 13th. Finally, StockNews.com downgraded Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.50.

Capri Stock Performance

The company’s fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $34.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.41 and a current ratio of 0.95.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, equities research analysts anticipate that Capri Holdings Limited will post 2.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPRI. Bessemer Group Inc. boosted its stake in shares of Capri by 82.4% in the 1st quarter. Bessemer Group Inc. now owns 1,330 shares of the company’s stock worth $60,000 after buying an additional 601 shares during the last quarter. CWM LLC increased its position in shares of Capri by 35.2% during the 2nd quarter. CWM LLC now owns 2,452 shares of the company’s stock valued at $81,000 after purchasing an additional 638 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Capri by 14.7% in the 2nd quarter. Signaturefd LLC now owns 2,734 shares of the company’s stock worth $90,000 after buying an additional 351 shares during the last quarter. EMC Capital Management grew its position in Capri by 32.7% during the first quarter. EMC Capital Management now owns 2,421 shares of the company’s stock valued at $110,000 after buying an additional 596 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Capri during the first quarter worth about $117,000. 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.