Southpoint Capital Advisors LP Buys Shares of 175,197 Capri Holdings Limited (NYSE:CPRI)

Southpoint Capital Advisors LP purchased a new position in shares of Capri Holdings Limited (NYSE:CPRI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 175,197 shares of the company’s stock, valued at approximately $7,435,000. Southpoint Capital Advisors LP owned about 0.15% of Capri as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Primecap Management Co. CA boosted its position in shares of Capri by 14.2% during the 3rd quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock valued at $175,734,000 after acquiring an additional 515,963 shares in the last quarter. FMR LLC grew its stake in shares of 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 purchasing an additional 2,274,149 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Capri by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,587,602 shares of the company’s stock worth $52,514,000 after buying an additional 68,081 shares in the last quarter. Baupost Group LLC MA bought a new position in shares of Capri during the 2nd quarter worth approximately $33,080,000. Finally, Samlyn Capital LLC boosted its stake in Capri by 8.3% in the 2nd quarter. Samlyn Capital LLC now owns 795,258 shares of the company’s stock valued at $26,307,000 after buying an additional 61,232 shares in the last quarter. 84.34% of the stock is owned by institutional investors.

Capri Price Performance

Shares of CPRI stock opened at $23.41 on Friday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -7.65, a PEG ratio of 5.01 and a beta of 2.05. Capri Holdings Limited has a 12 month low of $18.70 and a 12 month high of $51.23. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average price of $30.87 and a 200 day moving average price of $33.09.

Analyst Ratings Changes

A number of brokerages have issued reports on CPRI. Wells Fargo & Company cut their price objective on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of Capri from $57.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Citigroup downgraded Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Friday, September 13th. UBS Group dropped their price target on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Robert W. Baird reduced their price objective on Capri from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.20.

Capri 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.