Polar Asset Management Partners Inc. Invests $3.03 Million in Capri Holdings Limited $CPRI

Polar Asset Management Partners Inc. bought a new stake in Capri Holdings Limited (NYSE:CPRI) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 171,800 shares of the company’s stock, valued at approximately $3,027,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRI. Measured Wealth Private Client Group LLC grew its stake in Capri by 299.7% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 1,523 shares of the company’s stock valued at $27,000 after acquiring an additional 1,142 shares in the last quarter. Quantbot Technologies LP purchased a new position in Capri in the 2nd quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd lifted its stake in Capri by 273.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,236 shares of the company’s stock worth $55,000 after purchasing an additional 1,638 shares in the last quarter. MidFirst Bank acquired a new position in shares of Capri during the 4th quarter worth approximately $77,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Capri by 57.9% during the 4th quarter. Hantz Financial Services Inc. now owns 4,266 shares of the company’s stock worth $104,000 after purchasing an additional 1,565 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CPRI. Telsey Advisory Group dropped their price target on Capri from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, May 28th. Barclays reduced their price objective on Capri from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Weiss Ratings upgraded Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. UBS Group dropped their target price on Capri from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. cut their target price on Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.07.

Capri Stock Performance

NYSE:CPRI opened at $15.87 on Tuesday. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.28 and a beta of 1.39. The company’s 50-day moving average is $18.45 and its two-hundred day moving average is $19.69. Capri Holdings Limited has a 1-year low of $15.19 and a 1-year high of $28.26.

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

Capri Profile

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.