JPMorgan Chase & Co. Lowers Capri (NYSE:CPRI) Price Target to $22.00

Capri (NYSE:CPRI) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $29.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 34.43% from the stock’s current price.

CPRI has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Capri from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Bank of America cut their price objective on Capri from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of Capri in a research note on Thursday, May 28th. Robert W. Baird cut their price target on Capri from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. Finally, Wells Fargo & Company lowered their price target on Capri from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. One equities 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’s stock. According to MarketBeat.com, Capri has a consensus rating of “Hold” and an average target price of $23.33.

Capri Stock Up 2.7%

Shares of Capri stock opened at $16.36 on Tuesday. Capri has a 1 year low of $15.19 and a 1 year high of $28.26. The company has a market cap 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 current ratio of 1.21, a quick ratio of 0.60 and a debt-to-equity ratio of 4.08. The stock has a 50-day moving average price of $18.25 and a 200 day moving average price of $19.35.

Capri (NYSE:CPRI) last released its earnings results on Thursday, May 28th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $800.04 million. Capri had a return on equity of 664.22% and a net margin of 3.94%.The business’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($4.90) EPS. As a group, analysts expect that Capri will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephen F. Reitman sold 17,981 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently 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 CPRI. Handelsbanken Fonder AB lifted its position in shares of Capri by 85.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 63,100 shares of the company’s stock worth $1,172,000 after purchasing an additional 29,100 shares during the last quarter. GAMMA Investing LLC grew its holdings in Capri by 8.7% in the 2nd quarter. GAMMA Investing LLC now owns 12,274 shares of the company’s stock valued at $228,000 after buying an additional 987 shares during the last quarter. Moody National Bank Trust Division increased its position in Capri by 11.0% in the 2nd quarter. Moody National Bank Trust Division now owns 80,599 shares of the company’s stock worth $1,497,000 after buying an additional 7,981 shares during the period. Segall Bryant & Hamill LLC increased its position in Capri by 92.6% in the 1st quarter. Segall Bryant & Hamill LLC now owns 2,734,735 shares of the company’s stock worth $48,186,000 after buying an additional 1,314,611 shares during the period. Finally, Amundi acquired a new position in shares of Capri during the first quarter worth approximately $307,000. 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.