Capri (NYSE:CPRI) Shares Down 22.2% – Here’s Why

Capri Holdings Limited (NYSE:CPRI) dropped 22.2% on Thursday . The company traded as low as $16.03 and last traded at $15.28. Approximately 1,205,064 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 2,849,915 shares. The stock had previously closed at $19.63.

Wall Street Analysts Forecast Growth

CPRI has been the subject of several research reports. Barclays reduced their price objective on shares of Capri from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price target on shares of Capri in a report on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Capri from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. StockNews.com upgraded Capri from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Finally, Bank of America initiated coverage on Capri in a report on Monday, February 10th. They set a “neutral” rating and a $23.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.92.

Capri Price Performance

The company’s 50-day simple moving average is $21.89 and its 200 day simple moving average is $25.69. The company has a market capitalization of $1.73 billion, a P/E ratio of -1.72, a P/E/G ratio of 7.80 and a beta of 2.10. The company has a quick ratio of 0.59, a current ratio of 1.21 and a debt-to-equity ratio of 1.36.

Capri (NYSE:CPRI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a positive return on equity of 12.89% and a negative net margin of 21.79%. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, sell-side analysts expect that Capri Holdings Limited will post 0.98 earnings per share for the current fiscal year.

Institutional Trading of Capri

Institutional investors and hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. bought a new position in Capri in the 3rd quarter worth $42,000. Twin Tree Management LP bought a new position in shares of Capri in the fourth quarter worth about $45,000. Quarry LP acquired a new position in shares of Capri during the 3rd quarter worth about $53,000. Aster Capital Management DIFC Ltd bought a new stake in Capri during the 4th quarter valued at approximately $74,000. Finally, KBC Group NV grew its holdings in Capri by 63.9% in the 4th quarter. KBC Group NV now owns 5,039 shares of the company’s stock valued at $106,000 after buying an additional 1,965 shares during the last quarter. 84.34% of the stock is currently owned by institutional investors and hedge funds.

About Capri

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.