Renaissance Technologies LLC Acquires New Stake in Capri Holdings Limited $CPRI

Renaissance Technologies LLC acquired a new stake in shares of Capri Holdings Limited (NYSE:CPRI) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 436,700 shares of the company’s stock, valued at approximately $7,695,000.

A number of other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Capri during the 4th quarter worth $53,759,000. Norges Bank bought a new stake in Capri in the 4th quarter valued at about $50,228,000. State Street Corp raised its stake in Capri by 19.3% in the 2nd quarter. State Street Corp now owns 4,479,231 shares of the company’s stock valued at $79,282,000 after acquiring an additional 724,967 shares during the period. Rubric Capital Management LP purchased a new stake in Capri during the fourth quarter valued at about $16,470,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Capri by 34.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,165,618 shares of the company’s stock valued at $38,154,000 after purchasing an additional 557,955 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

Capri Trading Up 2.7%

Shares of CPRI opened at $16.36 on Tuesday. Capri Holdings Limited has a 1-year low of $15.19 and a 1-year high of $28.26. The company has a market capitalization of $1.88 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.29 and a beta of 1.41. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. The firm’s 50 day simple moving average is $18.25 and its 200 day simple moving average is $19.35.

Capri (NYSE:CPRI) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $796.00 million during the quarter, compared to analysts’ expectations of $800.04 million. Capri had a net margin of 3.94% and a return on equity of 664.22%. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($4.90) EPS. Sell-side analysts forecast that Capri Holdings Limited will post 2.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRI has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of Capri from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. TD Cowen dropped their price target on shares of Capri from $26.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Capri from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. UBS Group reduced their price objective on shares of Capri from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Finally, BTIG Research reissued a “buy” rating and set a $30.00 target price on shares of Capri in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Capri has an average rating of “Hold” and a consensus target price of $23.80.

Insider Transactions at Capri

In related news, Director Stephen F. Reitman sold 17,981 shares of the company’s 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Capri 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.