Capri (NYSE:CPRI) Shares Gap Up Following Analyst Upgrade

Shares of Capri Holdings Limited (NYSE:CPRI) gapped up prior to trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $15.00 to $19.00. The stock had previously closed at $21.36, but opened at $22.20. JPMorgan Chase & Co. currently has a neutral rating on the stock. Capri shares last traded at $22.61, with a volume of 1,511,228 shares trading hands.

Several other research analysts also recently weighed in on CPRI. Citigroup downgraded Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Friday, September 13th. Guggenheim upgraded Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, November 26th. Telsey Advisory Group lowered their price target on Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, November 15th. Robert W. Baird reduced their price objective on Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, UBS Group decreased their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.90.

Hedge Funds Weigh In On Capri

A number of institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA lifted its holdings in Capri by 14.2% in the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock valued at $175,734,000 after acquiring an additional 515,963 shares during the last quarter. FMR LLC lifted its stake in shares of Capri by 389.2% in the 3rd quarter. FMR LLC now owns 2,858,480 shares of the company’s stock valued at $121,314,000 after purchasing an additional 2,274,149 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Capri by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock worth $82,446,000 after purchasing an additional 41,009 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Capri by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,587,602 shares of the company’s stock worth $52,514,000 after purchasing an additional 68,081 shares during the period. Finally, Baupost Group LLC MA acquired a new stake in shares of Capri during the 2nd quarter worth about $33,080,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Stock Performance

The firm’s fifty day moving average is $26.83 and its 200-day moving average is $32.06. The company has a current ratio of 0.93, a quick ratio of 0.38 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $2.62 billion, a PE ratio of -7.27, a price-to-earnings-growth ratio of 4.63 and a beta of 2.05.

About Capri

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.