California Public Employees Retirement System Decreases Stake in Capri Holdings Limited (NYSE:CPRI)

California Public Employees Retirement System reduced its position in Capri Holdings Limited (NYSE:CPRIGet Rating) by 6.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 277,559 shares of the company’s stock after selling 17,686 shares during the period. California Public Employees Retirement System’s holdings in Capri were worth $11,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Capri by 15.8% in the second quarter. Principal Financial Group Inc. now owns 581,592 shares of the company’s stock worth $23,851,000 after buying an additional 79,211 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Capri by 17.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,359 shares of the company’s stock valued at $1,450,000 after purchasing an additional 5,371 shares during the period. Duality Advisers LP raised its position in Capri by 161.6% during the second quarter. Duality Advisers LP now owns 66,981 shares of the company’s stock valued at $2,747,000 after purchasing an additional 41,381 shares during the period. Walleye Capital LLC raised its position in Capri by 131.8% during the second quarter. Walleye Capital LLC now owns 11,889 shares of the company’s stock valued at $488,000 after purchasing an additional 6,759 shares during the period. Finally, Kistler Tiffany Companies LLC purchased a new stake in Capri during the second quarter valued at approximately $35,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Judy Gibbons sold 4,920 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $48.88, for a total transaction of $240,489.60. Following the completion of the sale, the director now owns 24,620 shares in the company, valued at approximately $1,203,425.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by company insiders.

Capri Stock Down 1.3 %

Shares of NYSE:CPRI opened at $52.58 on Monday. The business’s 50 day moving average is $44.89 and its 200 day moving average is $45.95. The company has a quick ratio of 0.71, a current ratio of 1.63 and a debt-to-equity ratio of 0.74. The stock has a market cap of $6.77 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 0.65 and a beta of 2.24. Capri Holdings Limited has a 52-week low of $36.90 and a 52-week high of $72.37.

Capri (NYSE:CPRIGet Rating) last posted its earnings results on Wednesday, November 9th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.25. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Capri had a return on equity of 38.60% and a net margin of 14.10%. Capri’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share. Sell-side analysts predict that Capri Holdings Limited will post 6.85 EPS for the current year.

Capri announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 14.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on CPRI. StockNews.com began coverage on Capri in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Citigroup decreased their price objective on Capri from $72.00 to $67.00 in a research report on Friday, November 4th. 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 note on Thursday, November 10th. JPMorgan Chase & Co. cut their target price on Capri from $72.00 to $70.00 in a research note on Monday, November 7th. Finally, Telsey Advisory Group cut their target price on Capri from $60.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, November 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

About Capri

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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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