Amalgamated Bank Trims Holdings in Capri Holdings Limited (NYSE:CPRI)

Amalgamated Bank decreased its stake in shares of Capri Holdings Limited (NYSE:CPRIGet Rating) by 4.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,097 shares of the company’s stock after selling 5,284 shares during the quarter. Amalgamated Bank owned about 0.07% of Capri worth $5,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CPRI. Goldman Sachs Group Inc. raised its position in Capri by 41.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,649,958 shares of the company’s stock valued at $136,182,000 after purchasing an additional 782,577 shares during the period. Assenagon Asset Management S.A. raised its position in Capri by 1,404.8% in the first quarter. Assenagon Asset Management S.A. now owns 579,901 shares of the company’s stock valued at $29,801,000 after purchasing an additional 541,363 shares during the period. Select Equity Group L.P. purchased a new stake in Capri in the first quarter valued at $21,338,000. Clark Capital Management Group Inc. purchased a new stake in Capri in the first quarter valued at $20,887,000. Finally, AGF Investments Inc. raised its position in Capri by 85.7% in the first quarter. AGF Investments Inc. now owns 790,000 shares of the company’s stock valued at $40,598,000 after purchasing an additional 364,687 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Capri Trading Up 1.6 %

NYSE:CPRI opened at $45.21 on Tuesday. The stock has a 50-day simple moving average of $48.42 and a 200-day simple moving average of $47.84. The stock has a market cap of $6.46 billion, a P/E ratio of 8.45, a P/E/G ratio of 0.64 and a beta of 2.25. Capri Holdings Limited has a 1 year low of $36.90 and a 1 year high of $72.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.51 and a current ratio of 1.29.

Capri (NYSE:CPRIGet Rating) last posted its earnings results on Tuesday, August 9th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.14. Capri had a return on equity of 36.51% and a net margin of 13.96%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $1.42 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Capri Holdings Limited will post 6.84 earnings per share for the current fiscal year.

Capri announced that its board has approved a stock buyback plan on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Capri from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Cowen dropped their price objective on Capri from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, June 2nd. Robert W. Baird dropped their price objective on Capri from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, June 2nd. Wells Fargo & Company dropped their price objective on Capri from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating on shares of Capri in a research note on Thursday, May 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Insider Activity

In other news, Director Judy Gibbons sold 4,920 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $48.88, for a total value of $240,489.60. Following the completion of the sale, the director now directly owns 24,620 shares of the company’s stock, valued at approximately $1,203,425.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Capri Company Profile

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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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Institutional Ownership by Quarter for Capri (NYSE:CPRI)

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