California Public Employees Retirement System Has $12.57 Million Stock Position in Capri Holdings Limited (NYSE:CPRI)

Posted by Defense World Staff on Feb 15th, 2023

California Public Employees Retirement System grew its stake in shares of Capri Holdings Limited (NYSE:CPRI – Get Rating) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,912 shares of the company’s stock after purchasing an additional 49,353 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Capri worth $12,566,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in shares of Capri by 624.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 616 shares of the company’s stock worth $25,000 after purchasing an additional 531 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new position in shares of Capri during the 2nd quarter worth approximately $35,000. UMB Bank n.a. increased its holdings in shares of Capri by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 996 shares of the company’s stock worth $38,000 after acquiring an additional 496 shares during the last quarter. EMC Capital Management increased its holdings in shares of Capri by 49.5% during the 2nd quarter. EMC Capital Management now owns 1,570 shares of the company’s stock worth $64,000 after acquiring an additional 520 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of Capri during the 3rd quarter worth approximately $71,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Capri Stock Performance

NYSE:CPRI opened at $51.20 on Wednesday. The stock has a fifty day moving average price of $59.89 and a 200-day moving average price of $52.12. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.38 and a beta of 2.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 1.34. Capri Holdings Limited has a fifty-two week low of $36.90 and a fifty-two week high of $71.17.

Capri (NYSE:CPRI – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.37). Capri had a net margin of 12.66% and a return on equity of 36.64%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $2.22 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Capri Holdings Limited will post 6.09 EPS for the current fiscal year.

Capri announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 14.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPRI. Barclays decreased their target price on Capri from $72.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, February 10th. Raymond James decreased their target price on Capri from $73.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, February 9th. Robert W. Baird decreased their price objective on Capri from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, February 9th. UBS Group decreased their price objective on Capri from $75.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, February 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $55.00 price objective (down from $58.00) on shares of Capri in a report on Thursday, February 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.13.

About Capri

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Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.