Empowered Funds LLC Grows Stake in Capri Holdings Limited (NYSE:CPRI)

Empowered Funds LLC lifted its stake in shares of Capri Holdings Limited (NYSE:CPRI) by 63.2% in the third quarter, Holdings Channel reports. The firm owned 23,941 shares of the company’s stock after buying an additional 9,275 shares during the period. Empowered Funds LLC’s holdings in Capri were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Baupost Group LLC MA purchased a new stake in Capri during the 2nd quarter valued at about $33,080,000. DME Capital Management LP purchased a new stake in Capri during the 2nd quarter valued at about $22,652,000. Khrom Capital Management LLC purchased a new stake in Capri during the 1st quarter valued at about $17,681,000. Clearline Capital LP purchased a new stake in Capri during the 2nd quarter valued at about $9,362,000. Finally, Swedbank AB purchased a new stake in Capri during the 1st quarter valued at about $8,401,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CPRI shares. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Robert W. Baird dropped their price objective on shares of Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Telsey Advisory Group dropped their price target on shares of Capri from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, November 15th. TD Cowen dropped their price target on shares of Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Finally, UBS Group dropped their price target on shares of Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.00.

Capri Price Performance

Capri stock opened at $20.46 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of -6.69, a price-to-earnings-growth ratio of 2.76 and a beta of 2.05. Capri Holdings Limited has a 52-week low of $18.70 and a 52-week high of $51.23. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $32.82 and its two-hundred day moving average is $33.66.

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.