Robert W. Baird Cuts Capri (NYSE:CPRI) Price Target to $24.00

Capri (NYSE:CPRI) had its price target trimmed by Robert W. Baird from $26.00 to $24.00 in a research report released on Monday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of Capri in a report on Thursday, May 28th. JPMorgan Chase & Co. dropped their target price on shares of Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, May 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Capri in a research note on Thursday, May 28th. Wells Fargo & Company lowered their target price on Capri from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. Finally, Telsey Advisory Group reduced their price target on shares of Capri from $23.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $23.80.

Capri Price Performance

NYSE:CPRI opened at $15.84 on Monday. The stock has a 50 day moving average price of $18.39 and a 200 day moving average price of $19.56. The stock has a market cap of $1.82 billion, a PE ratio of 13.90, a P/E/G ratio of 0.30 and a beta of 1.39. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.60 and a current ratio of 1.21. Capri has a one year low of $15.19 and a one year high of $28.26.

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

Insider Transactions at Capri

In other news, Director Stephen F. Reitman sold 17,981 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPRI. Royal Bank of Canada grew its holdings in shares of Capri by 70.0% during the first quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock worth $7,514,000 after purchasing an additional 156,757 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Capri by 48.8% during the first quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock worth $397,000 after acquiring an additional 6,595 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Capri by 13.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after purchasing an additional 1,313 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Capri by 22.4% during the 1st 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Capri by 23.7% in the first 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 purchasing an additional 80,928 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Company 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.