TD Cowen Cuts Capri (NYSE:CPRI) Price Target to $20.00

Capri (NYSE:CPRI) had its price target decreased by TD Cowen from $26.00 to $20.00 in a report released on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

Other analysts have also recently issued reports about the company. Robert W. Baird dropped their price objective on Capri from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, July 27th. JPMorgan Chase & Co. reduced 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. Bank of America lowered their price target on shares of Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Telsey Advisory Group cut their price target on Capri from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, May 28th. Finally, Raymond James Financial restated an “outperform” rating and set a $22.00 target price on shares of Capri in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.80.

Capri Stock Up 0.4%

NYSE CPRI opened at $15.96 on Wednesday. The stock’s 50 day simple moving average is $18.29 and its 200 day simple moving average is $19.46. 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 cap of $1.83 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.29 and a beta of 1.39. Capri has a one year low of $15.19 and a one year high of $28.26.

Capri (NYSE:CPRI) last announced its 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 company had revenue of $796.00 million for 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% on a year-over-year basis. During the same period in the prior year, the business earned ($4.90) earnings per share. As a group, sell-side analysts forecast that Capri will post 2.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stephen F. Reitman sold 17,981 shares of Capri 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 SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Capri

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its holdings in Capri by 1.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 41,707 shares of the company’s stock worth $1,018,000 after acquiring an additional 550 shares in the last quarter. Empowered Funds LLC grew its stake in Capri by 3.4% in the fourth quarter. Empowered Funds LLC now owns 16,580 shares of the company’s stock valued at $405,000 after purchasing an additional 550 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Capri by 14.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,303 shares of the company’s stock worth $105,000 after purchasing an additional 555 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Capri by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,444 shares of the company’s stock worth $431,000 after purchasing an additional 600 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Capri by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 108,789 shares of the company’s stock worth $1,926,000 after purchasing an additional 734 shares in the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.