Stock Traders Buy Large Volume of Capri Call Options (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRI) saw unusually large options trading on Thursday. Traders acquired 41,438 call options on the company. This is an increase of approximately 75% compared to the typical volume of 23,661 call options.

Capri Price Performance

NYSE CPRI traded up $0.92 during trading on Thursday, hitting $20.57. 14,242,884 shares of the company’s stock were exchanged, compared to its average volume of 2,036,867. The stock’s 50 day moving average price is $34.87 and its two-hundred day moving average price is $34.28. Capri has a fifty-two week low of $18.70 and a fifty-two week high of $51.23. The company has a current ratio of 0.93, a quick ratio of 0.38 and a debt-to-equity ratio of 0.83. The company has a market cap of $2.43 billion, a PE ratio of -6.92, a P/E/G ratio of 3.84 and a beta of 2.05.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CPRI. JPMorgan Chase & Co. cut their price objective on shares of Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Wells Fargo & Company reduced their price target on Capri from $42.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Citigroup cut Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Friday, September 13th. UBS Group decreased 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $26.00 price target on shares of Capri in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Capri presently has a consensus rating of “Hold” and a consensus price target of $30.29.

Hedge Funds Weigh In On Capri

A number of institutional investors have recently added to or reduced their stakes in CPRI. FMR LLC raised its position in Capri by 389.2% in the third quarter. FMR LLC now owns 2,858,480 shares of the company’s stock valued at $121,314,000 after purchasing an additional 2,274,149 shares during the last quarter. Baupost Group LLC MA acquired a new position in shares of Capri in the second quarter valued at approximately $33,080,000. DME Capital Management LP bought a new position in Capri in the 2nd quarter valued at approximately $22,652,000. Primecap Management Co. CA boosted its position in Capri by 14.2% during the 3rd quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after buying an additional 515,963 shares during the period. Finally, Khrom Capital Management LLC bought a new stake in Capri during the 1st quarter worth approximately $17,681,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.