Kettle Hill Capital Management LLC Acquires New Shares in Capri Holdings Limited $CPRI

Kettle Hill Capital Management LLC acquired a new stake in shares of Capri Holdings Limited (NYSE:CPRI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 120,091 shares of the company’s stock, valued at approximately $2,930,000. Kettle Hill Capital Management LLC owned 0.10% of Capri at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in Capri during the 4th quarter worth $53,759,000. Norges Bank bought a new stake in shares of Capri in the 4th quarter worth $50,228,000. Cartenna Capital LP bought a new stake in shares of Capri in the 3rd quarter worth $29,382,000. State Street Corp raised its position in shares of Capri by 19.3% during the second quarter. State Street Corp now owns 4,479,231 shares of the company’s stock worth $79,282,000 after purchasing an additional 724,967 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in shares of Capri during the fourth quarter worth $16,470,000. Institutional investors and hedge funds own 84.34% of the company’s stock.

Capri Stock Down 1.4%

NYSE:CPRI opened at $21.04 on Tuesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.39 and a beta of 1.40. Capri Holdings Limited has a 1-year low of $16.22 and a 1-year high of $28.26. The company has a current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The business’s fifty day moving average price is $19.16 and its 200 day moving average price is $21.26.

Capri (NYSE:CPRI) last issued its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. Capri had a return on equity of 664.22% and a net margin of 3.94%.The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $800.04 million. During the same period in the prior year, the firm posted ($4.90) EPS. The business’s revenue was down 23.1% compared to the same quarter last year. On average, sell-side analysts forecast that Capri Holdings Limited will post 2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Capri news, Director Stephen F. Reitman sold 17,981 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $19.42, for a total value of $349,191.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPRI has been the topic of a number of recent analyst reports. Weiss Ratings raised Capri from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Barclays cut their target price on Capri from $32.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. JPMorgan Chase & Co. cut their target price on Capri from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, May 28th. Wells Fargo & Company cut their target price on Capri from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 28th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $22.00 target price on shares of Capri in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.79.

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.