Brokerages Set Capri Holdings Limited (NYSE:CPRI) Price Target at $24.21

Capri Holdings Limited (NYSE:CPRI) has earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.2143.

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Capri from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Bank of America dropped their price target on shares of Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. Telsey Advisory Group reduced their price target on shares of Capri from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th.

Insiders Place Their Bets

In other news, Director Stephen F. Reitman sold 17,981 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $19.42, for a total transaction of $349,191.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Capri

A number of institutional investors have recently added to or reduced their stakes in CPRI. Royal Bank of Canada grew its position in shares of Capri by 70.0% in the 1st quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock worth $7,514,000 after buying an additional 156,757 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Capri by 48.8% in the first quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock valued at $397,000 after acquiring an additional 6,595 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Capri by 13.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after acquiring an additional 1,313 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Capri by 22.4% in the first quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company’s stock worth $15,084,000 after purchasing an additional 139,809 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Capri by 23.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company’s stock valued at $8,337,000 after buying an additional 80,928 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.

Capri Trading Down 0.1%

Shares of CPRI opened at $15.43 on Wednesday. Capri has a 1-year low of $15.19 and a 1-year high of $28.26. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The firm’s 50-day moving average price is $18.48 and its 200-day moving average price is $19.76. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.28 and a beta of 1.39.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. Capri’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same period last year, the business posted ($4.90) earnings per share. Sell-side analysts anticipate that Capri will post 2.06 EPS for the current year.

About Capri

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.