Robert W. Baird Cuts Capri (NYSE:CPRI) Price Target to $24.00

Capri (NYSE:CPRI) had its target price dropped by stock analysts at Robert W. Baird from $26.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 55.53% from the stock’s previous close.

CPRI has been the subject of a number of other reports. BTIG Research reiterated a “buy” rating and set a $30.00 target price on shares of Capri in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Capri from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. dropped their price objective on shares of Capri from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. Wells Fargo & Company reduced their target price on shares of Capri from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Finally, Barclays decreased their target price on shares of Capri from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Capri has a consensus rating of “Hold” and an average target price of $24.07.

Capri Trading Down 0.1%

CPRI stock opened at $15.43 on Monday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.28 and a beta of 1.39. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.21 and a quick ratio of 0.60. Capri has a 1-year low of $15.19 and a 1-year high of $28.26. The business has a 50 day simple moving average of $18.48 and a two-hundred day simple moving average of $19.76.

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

Insider Buying and Selling at Capri

In related news, Director Stephen F. Reitman sold 17,981 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $19.42, for a total transaction of $349,191.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Capri by 70.0% in the first quarter. Royal Bank of Canada now owns 380,838 shares of the company’s stock valued at $7,514,000 after acquiring an additional 156,757 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Capri by 48.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 20,120 shares of the company’s stock worth $397,000 after purchasing an additional 6,595 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Capri by 13.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,034 shares of the company’s stock valued at $218,000 after purchasing an additional 1,313 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Capri by 22.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 764,509 shares of the company’s stock valued at $15,084,000 after purchasing an additional 139,809 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Capri by 23.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 422,561 shares of the company’s stock worth $8,337,000 after purchasing an additional 80,928 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

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.