Macquarie Group Ltd. Has $8.84 Million Stock Position in Capri Holdings Limited (NYSE:CPRI)

Posted by on Mar 7th, 2023

Macquarie Group Ltd. reduced its holdings in shares of Capri Holdings Limited (NYSE:CPRI – Get Rating) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,360 shares of the company’s stock after selling 2,768 shares during the quarter. Macquarie Group Ltd. owned 0.18% of Capri worth $8,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Capri by 2.8% in the first quarter. State Street Corp now owns 4,421,881 shares of the company’s stock valued at $227,240,000 after purchasing an additional 119,122 shares during the period. Goldman Sachs Group Inc. boosted its position in Capri by 6.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,827,937 shares of the company’s stock valued at $115,973,000 after buying an additional 177,979 shares during the period. Pictet Asset Management SA boosted its position in Capri by 2.3% during the 3rd quarter. Pictet Asset Management SA now owns 2,492,618 shares of the company’s stock valued at $95,816,000 after buying an additional 55,059 shares during the period. Dimensional Fund Advisors LP raised its holdings in Capri by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,330,268 shares of the company’s stock worth $89,583,000 after purchasing an additional 72,658 shares in the last quarter. Finally, ARGA Investment Management LP raised its holdings in Capri by 9.6% in the 3rd quarter. ARGA Investment Management LP now owns 1,907,341 shares of the company’s stock worth $73,318,000 after purchasing an additional 166,559 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Capri Stock Performance

Shares of NYSE CPRI opened at $48.09 on Tuesday. The firm’s 50-day moving average price is $57.98 and its 200-day moving average price is $52.06. The company has a quick ratio of 0.57, a current ratio of 1.34 and a debt-to-equity ratio of 0.68. The company has a market cap of $6.05 billion, a PE ratio of 9.09, a PEG ratio of 1.38 and a beta of 2.28. Capri Holdings Limited has a 52-week low of $36.90 and a 52-week high of $69.25.

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

Capri declared that its board has initiated a share repurchase program on Wednesday, November 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 14.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

CPRI has been the subject of several research reports. Cowen lowered shares of Capri from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $70.00 to $55.00 in a report on Monday, February 13th. Barclays decreased their price objective on shares of Capri from $72.00 to $58.00 and set an “overweight” rating for the company in a report on Friday, February 10th. Robert W. Baird decreased their price target on shares of Capri from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, February 9th. Telsey Advisory Group reiterated a “market perform” rating and issued a $70.00 price target on shares of Capri in a research note on Wednesday, February 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $55.00 price target (down from $58.00) on shares of Capri in a research note on Thursday, February 9th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.

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Institutional Ownership by Quarter for Capri (NYSE:CPRI)

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