Capri (NYSE:CPRI) Shares Up 5.2% – Here’s Why

Shares of Capri Holdings Limited (NYSE:CPRI) rose 5.2% on Friday. The stock traded as high as $21.35 and last traded at $21.4310. 1,841,563 shares were traded during trading, a decline of 49% from the average daily volume of 3,576,570 shares. The stock had previously closed at $20.38.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CPRI shares. Wells Fargo & Company lifted their target price on Capri from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Capri in a research report on Tuesday, August 25th. UBS Group raised their price objective on shares of Capri from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Capri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 4th. Finally, TD Cowen started coverage on shares of Capri in a report on Friday, October 30th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.13.

Capri Price Performance

The company has a current ratio of 1.18, a quick ratio of 0.50 and a debt-to-equity ratio of 6.31. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.43 and a beta of 1.27. The stock has a 50-day moving average of $15.98 and a two-hundred day moving average of $17.71.

Capri (NYSE:CPRI) last released its earnings results on Saturday, October 31st. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.21. Capri had a net margin of 6.12% and a return on equity of 242.96%. The business had revenue of $809.00 million for the quarter, compared to the consensus estimate of $786.55 million. During the same period last year, the firm posted ($0.03) earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Capri Holdings Limited will post 2.18 EPS for the current year.

Institutional Investors Weigh In On Capri

Several hedge funds have recently bought and sold shares of the business. Segall Bryant & Hamill LLC boosted its position in Capri by 92.6% during the 1st quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock worth $48,186,000 after acquiring an additional 1,314,611 shares during the period. Dimensional Fund Advisors LP increased its stake in Capri by 34.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,165,618 shares of the company’s stock valued at $38,154,000 after buying an additional 557,955 shares during the period. Cooper Creek Partners Management LLC acquired a new position in Capri in the 1st quarter valued at approximately $23,784,000. Penn Capital Management Company LLC lifted its position in Capri by 23.8% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,177,562 shares of the company’s stock worth $16,653,000 after buying an additional 226,159 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Capri by 15.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 640,980 shares of the company’s stock valued at $11,518,000 after buying an additional 86,361 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Company Profile

Capri Holdings Limited is a global fashion group focused on designing, marketing and distributing luxury apparel, footwear, handbags, accessories and related products. Its portfolio includes Michael Kors and Jimmy Choo, whose products are sold through company-operated stores, e-commerce platforms and wholesale partners. The company serves customers in markets around the world, including North America, Europe and Asia. Its brands offer a range of products, including ready-to-wear clothing, shoes, bags, watches, eyewear, jewelry and fragrances.