Capri (NYSE:CPRI) Sees Large Volume Increase – Still a Buy?

Capri Holdings Limited (NYSE:CPRI) shares saw unusually-high trading volume on Friday . Approximately 965,125 shares were traded during trading, a decline of 10% from the previous session’s volume of 1,072,336 shares.The stock last traded at $20.25 and had previously closed at $20.61.

Analysts Set New Price Targets

CPRI has been the topic of several recent research reports. UBS Group cut their target price on shares of Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Telsey Advisory Group reduced their price objective on Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, November 15th. Guggenheim raised Capri from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on Capri from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Robert W. Baird lowered their price objective on Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.90.

Capri Stock Down 1.6 %

The firm’s 50-day moving average price is $21.24 and its two-hundred day moving average price is $30.89. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93. The firm has a market cap of $2.39 billion, a PE ratio of -6.63, a P/E/G ratio of 4.55 and a beta of 2.05.

Institutional Trading of Capri

Several institutional investors and hedge funds have recently made changes to their positions in CPRI. Arizona State Retirement System lifted its stake in Capri by 2.2% in the second quarter. Arizona State Retirement System now owns 32,633 shares of the company’s stock valued at $1,080,000 after buying an additional 693 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Capri by 13.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 115,305 shares of the company’s stock worth $3,814,000 after purchasing an additional 13,287 shares during the period. Cowen AND Company LLC purchased a new position in Capri during the 2nd quarter worth $1,831,000. Monaco Asset Management SAM acquired a new position in Capri in the second quarter valued at $2,977,000. Finally, Headlands Technologies LLC raised its holdings in shares of Capri by 231.5% in the second quarter. Headlands Technologies LLC now owns 8,596 shares of the company’s stock valued at $284,000 after buying an additional 6,003 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

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.