TD Cowen Cuts Capri (NYSE:CPRI) Price Target to $22.00

Capri (NYSE:CPRI) had its price objective reduced by TD Cowen from $57.00 to $22.00 in a research note released on Friday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other brokerages have also recently weighed in on CPRI. Robert W. Baird dropped their price target on shares of Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Telsey Advisory Group lowered their price objective on shares of Capri from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday. Citigroup downgraded shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Friday, September 13th. JPMorgan Chase & Co. decreased their price target on shares of Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.88.

Capri Trading Up 2.3 %

Shares of CPRI traded up $0.48 during trading on Friday, reaching $21.00. 5,898,896 shares of the company traded hands, compared to its average volume of 2,076,146. Capri has a twelve month low of $18.70 and a twelve month high of $51.23. The stock has a market cap of $2.48 billion, a PE ratio of -6.86, a price-to-earnings-growth ratio of 3.84 and a beta of 2.05. The stock has a 50-day simple moving average of $34.30 and a 200-day simple moving average of $34.08. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83.

Hedge Funds Weigh In On Capri

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

Capri Company Profile

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.