Truist Financial Corp lessened its holdings in shares of Capri Holdings Limited (NYSE:CPRI – Get Rating) by 46.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,002 shares of the company’s stock after selling 6,856 shares during the period. Truist Financial Corp’s holdings in Capri were worth $307,000 at the end of the most recent quarter.
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Several other hedge funds and other institutional investors have also recently made changes to their positions in CPRI. AlphaCrest Capital Management LLC increased its position in shares of Capri by 65.6% in the 1st quarter. AlphaCrest Capital Management LLC now owns 7,288 shares of the company’s stock valued at $375,000 after acquiring an additional 2,888 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of Capri in the 1st quarter valued at $4,352,000. Dimensional Fund Advisors LP increased its position in shares of Capri by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,198,021 shares of the company’s stock valued at $112,981,000 after acquiring an additional 102,439 shares during the period. Bridgefront Capital LLC acquired a new position in shares of Capri in the 1st quarter valued at $271,000. Finally, Pearl River Capital LLC acquired a new position in shares of Capri in the 1st quarter valued at $227,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.
Capri Trading Down 0.5 %
Shares of Capri stock opened at $63.67 on Thursday. The firm has a market capitalization of $8.20 billion, a PE ratio of 11.21, a P/E/G ratio of 0.79 and a beta of 2.20. Capri Holdings Limited has a twelve month low of $36.90 and a twelve month high of $72.37. The firm’s 50-day moving average price is $58.35 and its 200 day moving average price is $50.62. The company has a current ratio of 1.63, a quick ratio of 0.71 and a debt-to-equity ratio of 0.74.
Capri (NYSE:CPRI – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.24. Capri had a net margin of 14.10% and a return on equity of 38.60%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company posted $1.53 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Capri Holdings Limited will post 6.87 EPS for the current fiscal year.
Capri declared that its board has authorized a share buyback program on Wednesday, November 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 14.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
CPRI has been the topic of several research reports. Morgan Stanley cut their target price on Capri from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, November 10th. Telsey Advisory Group cut their price target on Capri from $60.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, November 10th. Barclays increased their price target on Capri from $56.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Capri from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Citigroup cut their price target on Capri from $72.00 to $67.00 in a research report on Friday, November 4th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.
Capri Profile
Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.
Further Reading
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