Wells Fargo & Company Cuts Capri (NYSE:CPRI) Price Target to $16.00

Capri (NYSE:CPRI) had its price target cut by Wells Fargo & Company from $20.00 to $16.00 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the stock.

CPRI has been the topic of several other reports. Telsey Advisory Group cut their target price on Capri from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, May 28th. Barclays decreased their price target on Capri from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. lowered their price objective on Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Finally, Bank of America cut their price objective on Capri from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.21.

Capri Stock Performance

Shares of CPRI opened at $16.40 on Wednesday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 0.31 and a beta of 1.39. The company’s fifty day moving average is $18.64 and its 200-day moving average is $20.10. The company has a quick ratio of 0.60, a current ratio of 1.21 and a debt-to-equity ratio of 4.08. Capri has a 12 month low of $16.21 and a 12 month high of $28.26.

Capri (NYSE:CPRI) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. Capri’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($4.90) EPS. Equities analysts expect that Capri will post 2.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen F. Reitman sold 17,981 shares of Capri stock in a transaction on Monday, June 8th. The shares were sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Capri

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Capri by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 11,701,832 shares of the company’s stock worth $285,525,000 after purchasing an additional 121,209 shares during the last quarter. State Street Corp boosted its stake in Capri by 19.3% during the 2nd quarter. State Street Corp now owns 4,479,231 shares of the company’s stock valued at $79,282,000 after purchasing an additional 724,967 shares during the period. Segall Bryant & Hamill LLC grew its holdings in Capri by 92.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock valued at $48,186,000 after buying an additional 1,314,611 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Capri in the 4th quarter valued at approximately $53,759,000. Finally, Dimensional Fund Advisors LP grew its holdings in Capri by 34.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,165,618 shares of the company’s stock valued at $38,154,000 after buying an additional 557,955 shares during the last quarter. 84.34% of the stock is owned by institutional investors and hedge funds.

Capri Company Profile

Capri Holdings Limited (NYSE: CPRI) is a global luxury fashion company that designs, markets and distributes a range of premium lifestyle products. The company’s principal brands—Michael Kors, Versace and Jimmy Choo—offer handbags, ready-to-wear apparel, footwear, watches, jewelry, fragrance and other accessories. Capri Holdings combines in-house design talent with international sourcing, manufacturing and retail operations to deliver collections that reflect each brand’s distinct heritage and aesthetic vision.

Formed in 2018 through the rebranding of Michael Kors Holdings following the acquisition of Versace, Capri has since integrated Jimmy Choo into its portfolio.