Capri Holdings Limited (NYSE:CPRI) Sees Significant Increase in Short Interest

Capri Holdings Limited (NYSE:CPRI) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 10,110,000 shares, a growth of 10.9% from the December 15th total of 9,120,000 shares. Based on an average daily trading volume, of 4,980,000 shares, the days-to-cover ratio is presently 2.0 days. Currently, 8.8% of the company’s stock are short sold.

Institutional Investors Weigh In On Capri

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its stake in Capri by 174.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,670 shares of the company’s stock valued at $456,000 after buying an additional 13,785 shares during the period. Lind Value II ApS purchased a new position in Capri during the fourth quarter worth about $9,087,000. Accurate Wealth Management LLC lifted its position in Capri by 114.5% in the fourth quarter. Accurate Wealth Management LLC now owns 52,431 shares of the company’s stock valued at $1,104,000 after purchasing an additional 27,992 shares during the period. Moody National Bank Trust Division acquired a new stake in Capri in the fourth quarter valued at about $841,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in Capri in the 3rd quarter valued at approximately $25,888,000. Institutional investors and hedge funds own 84.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CPRI shares. Robert W. Baird lowered their price target on shares of Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, December 16th. TD Cowen decreased their price target on Capri from $57.00 to $22.00 and set a “hold” rating for the company in a report on Friday, November 15th. BMO Capital Markets upgraded Capri from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $25.00 to $31.00 in a report on Monday, January 6th. Finally, Barclays restated an “equal weight” rating and set a $21.00 target price on shares of Capri in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.55.

Capri Stock Performance

Shares of CPRI stock traded up $0.02 during trading hours on Monday, hitting $23.80. The stock had a trading volume of 2,829,249 shares, compared to its average volume of 2,512,645. The stock’s 50 day moving average is $21.68 and its 200 day moving average is $30.20. The firm has a market capitalization of $2.81 billion, a PE ratio of -7.78, a PEG ratio of 5.01 and a beta of 2.06. Capri has a twelve month low of $18.70 and a twelve month high of $50.79. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.38.

Capri Company Profile

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.