Capri Holdings Limited (NYSE:CPRI – Get Rating) – Equities research analysts at Telsey Advisory Group issued their FY2024 earnings estimates for shares of Capri in a research note issued on Wednesday, August 3rd. Telsey Advisory Group analyst D. Telsey forecasts that the company will post earnings per share of $7.29 for the year. Telsey Advisory Group has a “Market Perform” rating on the stock. The consensus estimate for Capri’s current full-year earnings is $6.82 per share.
A number of other research analysts have also recently issued reports on the stock. Barclays lowered their price target on shares of Capri from $74.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, June 2nd. Cowen lowered their price target on shares of Capri from $80.00 to $70.00 in a research report on Thursday, June 2nd. Robert W. Baird decreased their target price on shares of Capri from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. Cowen decreased their target price on shares of Capri from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. Finally, Citigroup reduced their price target on shares of Capri from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.44.
Capri Trading Down 0.1 %
Capri (NYSE:CPRI – Get Rating) last posted its earnings results on Wednesday, June 1st. The company reported $1.02 EPS 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 period last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year.
Capri announced that its Board of Directors has approved a share repurchase program on Wednesday, June 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Capri
In other Capri news, CEO John D. Idol sold 3,803 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $49.63, for a total transaction of $188,742.89. Following the transaction, the chief executive officer now owns 933,268 shares in the company, valued at $46,318,090.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in Capri by 41.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company’s stock worth $136,182,000 after buying an additional 782,577 shares during the last quarter. Senvest Management LLC grew its stake in shares of Capri by 15.7% during the 4th quarter. Senvest Management LLC now owns 5,322,498 shares of the company’s stock worth $345,483,000 after purchasing an additional 723,007 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Capri by 1,404.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 579,901 shares of the company’s stock worth $29,801,000 after purchasing an additional 541,363 shares during the period. AGF Investments Inc. acquired a new stake in shares of Capri during the 4th quarter worth approximately $27,607,000. Finally, Select Equity Group L.P. acquired a new stake in shares of Capri during the 1st quarter worth approximately $21,338,000. 88.46% of the stock is currently owned by institutional investors.
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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