Capri (NYSE:CPRI) Given New $20.00 Price Target at TD Cowen

Capri (NYSE:CPRI) had its price target reduced by analysts at TD Cowen from $26.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 26.86% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of Capri in a research note on Thursday, May 28th. Robert W. Baird cut their target price on Capri from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday. Bank of America reduced their target price on Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Wells Fargo & Company decreased their target price on Capri from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Finally, Raymond James Financial restated an “outperform” rating and set a $22.00 price target on shares of Capri in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Capri currently has an average rating of “Hold” and a consensus target price of $23.80.

Capri Stock Down 3.9%

Shares of NYSE:CPRI traded down $0.64 during trading on Wednesday, hitting $15.77. 1,541,873 shares of the company were exchanged, compared to its average volume of 3,124,561. The stock has a market capitalization of $1.81 billion, a P/E ratio of 13.84, a PEG ratio of 0.29 and a beta of 1.39. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. Capri has a 12-month low of $15.19 and a 12-month high of $28.26. The firm’s 50 day moving average price is $18.43 and its 200-day moving average price is $19.63.

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

Insiders Place Their Bets

In other news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Capri

A number of large investors have recently made changes to their positions in CPRI. Vanguard Group Inc. boosted its holdings in Capri by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 11,701,832 shares of the company’s stock worth $285,525,000 after buying an additional 121,209 shares in the last quarter. State Street Corp grew its position in Capri by 19.3% during the second quarter. State Street Corp now owns 4,479,231 shares of the company’s stock worth $79,282,000 after buying an additional 724,967 shares during the period. Segall Bryant & Hamill LLC grew its position in Capri by 92.6% during the first quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock worth $48,186,000 after buying an additional 1,314,611 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Capri in the fourth quarter valued at about $53,759,000. Finally, Dimensional Fund Advisors LP increased its holdings in Capri by 34.7% in the first 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 in the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

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.