Arizona State Retirement System cut its position in shares of Capri Holdings Limited (NYSE:CPRI – Get Rating) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,671 shares of the company’s stock after selling 243 shares during the quarter. Arizona State Retirement System’s holdings in Capri were worth $2,090,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Sageworth Trust Co of South Dakota acquired a new stake in shares of Capri during the fourth quarter worth $34,000. National Bank of Canada FI bought a new position in Capri during the fourth quarter worth $43,000. UMB Bank N A MO bought a new position in Capri during the fourth quarter worth $59,000. City State Bank bought a new position in Capri during the fourth quarter worth $71,000. Finally, Fifth Third Bancorp boosted its stake in Capri by 14.6% during the fourth quarter. Fifth Third Bancorp now owns 1,840 shares of the company’s stock worth $119,000 after acquiring an additional 234 shares in the last quarter. 88.46% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Citigroup cut their target price on shares of Capri from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. Credit Suisse Group cut their target price on shares of Capri from $65.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, July 21st. Robert W. Baird cut their target price on shares of Capri from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. Barclays raised their price objective on shares of Capri from $63.00 to $66.00 and gave the company a “maintains” rating in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Capri from $69.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Capri presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.63.
Capri Stock Up 0.1 %
Capri (NYSE:CPRI – Get Rating) last posted its quarterly earnings data on Wednesday, June 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. Capri had a net margin of 14.54% and a return on equity of 36.48%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts expect that Capri Holdings Limited will post 6.82 earnings per share for the current fiscal year.
Capri announced that its board has initiated a share repurchase program on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Insider Buying and Selling
In related news, CEO John D. Idol sold 3,803 shares of the firm’s 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 sale, the chief executive officer now owns 933,268 shares in the company, valued at $46,318,090.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.
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. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.
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