SummitTX Capital L.P. Purchases 392,517 Shares of Capri Holdings Limited $CPRI

SummitTX Capital L.P. increased its position in shares of Capri Holdings Limited (NYSE:CPRI) by 222.3% in the first quarter, HoldingsChannel reports. The firm owned 569,054 shares of the company’s stock after purchasing an additional 392,517 shares during the period. SummitTX Capital L.P.’s holdings in Capri were worth $10,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRI. Cooper Creek Partners Management LLC bought a new stake in Capri during the first quarter worth about $23,784,000. Entropy Technologies LP acquired a new position in shares of Capri in the 1st quarter worth approximately $431,000. Renaissance Technologies LLC bought a new stake in Capri during the 1st quarter worth approximately $7,695,000. Inceptionr LLC acquired a new stake in Capri during the 1st quarter valued at $415,000. Finally, Sei Investments Co. raised its position in Capri by 127.0% in the 1st quarter. Sei Investments Co. now owns 267,471 shares of the company’s stock valued at $4,713,000 after purchasing an additional 149,633 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Capri

In related 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 value of $349,191.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

Capri Stock Down 0.1%

NYSE:CPRI opened at $15.43 on Monday. The stock’s fifty day moving average price is $18.48 and its two-hundred day moving average price is $19.76. Capri Holdings Limited has a 52-week low of $15.19 and a 52-week high of $28.26. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.60 and a current ratio of 1.21. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 0.28 and a beta of 1.39.

Capri (NYSE:CPRI) last released its earnings results on Thursday, May 28th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $796.00 million during the quarter, compared to analysts’ expectations of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The business’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period last year, the firm earned ($4.90) EPS. On average, analysts anticipate that Capri Holdings Limited will post 2.06 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on CPRI. Wells Fargo & Company reduced their price objective on Capri from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. UBS Group lowered their target price on Capri from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. reduced their price target on shares of Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, May 28th. Finally, Raymond James Financial reissued an “outperform” rating and set a $22.00 price objective on shares of Capri in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Capri has an average rating of “Hold” and a consensus target price of $24.21.

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.