Principal Financial Group Inc. Purchases 79,211 Shares of Capri Holdings Limited (NYSE:CPRI)

Principal Financial Group Inc. raised its position in Capri Holdings Limited (NYSE:CPRIGet Rating) by 15.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 581,592 shares of the company’s stock after purchasing an additional 79,211 shares during the quarter. Principal Financial Group Inc.’s holdings in Capri were worth $23,851,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of 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 buying an additional 782,577 shares during the period. Select Equity Group L.P. acquired a new stake in shares of Capri in the first quarter valued at about $21,338,000. Clark Capital Management Group Inc. acquired a new stake in shares of Capri in the first quarter valued at about $20,887,000. AGF Investments Inc. increased its stake in shares of 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 buying an additional 364,687 shares during the period. Finally, North Growth Management Ltd. acquired a new stake in shares of Capri in the second quarter valued at about $9,169,000. 85.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CPRI shares. Telsey Advisory Group decreased their price target on Capri from $60.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, November 10th. StockNews.com started coverage on Capri in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Barclays decreased their target price on Capri to $56.00 in a research note on Wednesday, November 16th. Morgan Stanley decreased their target price on Capri from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Finally, JPMorgan Chase & Co. decreased their target price on Capri from $72.00 to $70.00 in a research note on Monday, November 7th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.25.

Insider Activity

In related news, Director Judy Gibbons sold 4,920 shares of Capri 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 sale, the director now directly owns 24,620 shares in the company, valued at $1,203,425.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Capri Stock Down 1.3 %

CPRI stock opened at $52.58 on Monday. Capri Holdings Limited has a twelve month low of $36.90 and a twelve month high of $72.37. 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’s 50 day moving average is $44.89 and its 200-day moving average is $45.95. The firm has a market capitalization of $6.77 billion, a PE ratio of 9.26, a P/E/G ratio of 0.65 and a beta of 2.24.

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

Capri announced that its Board of Directors has approved a share buyback program on Wednesday, November 9th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 14.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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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