EMC Capital Management Reduces Stock Position in Capri Holdings Limited (NYSE:CPRI)

EMC Capital Management trimmed its holdings in shares of Capri Holdings Limited (NYSE:CPRI) by 79.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,421 shares of the company’s stock after selling 9,138 shares during the period. EMC Capital Management’s holdings in Capri were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new stake in Capri during the third quarter worth approximately $224,000. Riverwater Partners LLC purchased a new stake in shares of Capri during the 3rd quarter worth approximately $1,030,000. Senvest Management LLC purchased a new position in shares of Capri in the 3rd quarter valued at $6,610,000. Primecap Management Co. CA grew its position in shares of 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 buying an additional 515,963 shares during the last quarter. Finally, Anthracite Investment Company Inc. acquired a new stake in Capri during the 3rd quarter worth $7,869,000. 84.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CPRI shares. Citigroup raised Capri from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $29.00 in a report on Friday, January 10th. TD Cowen dropped their price target on Capri from $57.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Robert W. Baird reduced their price objective on Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. BMO Capital Markets upgraded shares of Capri from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $25.00 to $31.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.36.

Capri Price Performance

Shares of CPRI opened at $24.82 on Friday. 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 stock’s 50 day moving average is $22.64 and its two-hundred day moving average is $29.61. Capri Holdings Limited has a twelve month low of $18.70 and a twelve month high of $49.20. The firm has a market capitalization of $2.93 billion, a PE ratio of -8.11, a P/E/G ratio of 5.67 and a beta of 2.06.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Capri had a positive return on equity of 16.54% and a negative net margin of 7.44%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company earned $1.13 EPS. Research analysts anticipate that Capri Holdings Limited will post 1.57 earnings per share for the current year.

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.