Capri Holdings Limited (NYSE:CPRI – Get Rating) – Stock analysts at Jefferies Financial Group increased their Q4 2023 earnings per share estimates for Capri in a research note issued on Wednesday, June 1st. Jefferies Financial Group analyst C. Tarlowe now expects that the company will post earnings of $1.35 per share for the quarter, up from their prior estimate of $1.05.
CPRI has been the subject of several other research reports. Sanford C. Bernstein started coverage on shares of Capri in a research report on Monday, March 14th. They set a “market perform” rating and a $55.00 target price for the company. StockNews.com cut shares of Capri from a “buy” rating to a “hold” rating in a research report on Friday, May 27th. Cowen dropped their target price on shares of Capri from $80.00 to $70.00 in a research report on Thursday. Barclays dropped their target price on shares of Capri from $74.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating on shares of Capri in a research report on Thursday, May 26th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $74.53.
Capri (NYSE:CPRI – Get Rating) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.20. Capri had a net margin of 14.54% and a return on equity of 36.48%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company posted $0.38 EPS. Capri’s revenue was up 24.6% on a year-over-year basis.
Capri declared that its Board of Directors has initiated a share buyback program on Wednesday, June 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO John D. Idol sold 3,803 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $49.63, for a total transaction of $188,742.89. Following the completion of the transaction, the chief executive officer now directly owns 933,268 shares in the company, valued at approximately $46,318,090.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Daniel Purefoy sold 1,950 shares of the stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $50.80, for a total transaction of $99,060.00. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of CPRI. Counterpoint Mutual Funds LLC bought a new position in Capri in the 4th quarter valued at about $27,000. Sageworth Trust Co of South Dakota bought a new position in Capri in the 4th quarter valued at about $34,000. National Bank of Canada FI acquired a new position in shares of Capri during the 4th quarter worth approximately $43,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Capri during the 1st quarter worth approximately $51,000. Finally, UMB Bank N A MO acquired a new position in shares of Capri during the 4th quarter worth approximately $59,000. 88.46% of the stock is currently owned by institutional investors.
Capri Company Profile (Get Rating)
Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. The company's Versace segment offers ready-to-wear, accessories, footwear, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques; and department and specialty stores, as well as through Versace e-commerce sites.
- Get a free copy of the StockNews.com research report on Capri (CPRI)
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