Investors Buy High Volume of Capri Call Options (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRI) was the target of unusually large options trading on Monday. Traders bought 35,503 call options on the company. This is an increase of approximately 48% compared to the typical volume of 23,991 call options.

Analyst Upgrades and Downgrades

A number of analysts have commented on CPRI shares. Citigroup raised Capri from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $21.00 to $29.00 in a report on Friday, January 10th. BMO Capital Markets raised Capri from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $25.00 to $31.00 in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on Capri from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, January 28th. Bank of America began coverage on Capri in a report on Monday, February 10th. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Capri from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Capri has a consensus rating of “Hold” and an average price target of $25.92.

Capri Stock Performance

NYSE CPRI traded up $1.28 on Monday, hitting $23.26. 3,839,105 shares of the company traded hands, compared to its average volume of 3,203,705. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -2.72, a P/E/G ratio of 7.80 and a beta of 2.06. The company has a current ratio of 1.21, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average price is $22.55 and its 200-day moving average price is $28.04. Capri has a 52-week low of $18.70 and a 52-week high of $47.17.

Capri (NYSE:CPRI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.27). Capri had a negative net margin of 21.79% and a positive return on equity of 12.89%. During the same period in the previous year, the company earned $1.20 earnings per share. Equities analysts expect that Capri will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Capri

Several large investors have recently made changes to their positions in CPRI. FMR LLC lifted its position in shares of Capri by 249.4% in the fourth quarter. FMR LLC now owns 9,987,603 shares of the company’s stock valued at $210,339,000 after acquiring an additional 7,129,123 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Capri by 22,554.7% in the fourth quarter. Pacer Advisors Inc. now owns 3,902,960 shares of the company’s stock valued at $82,196,000 after acquiring an additional 3,885,732 shares in the last quarter. Norges Bank purchased a new position in shares of Capri in the fourth quarter valued at about $58,070,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Capri in the fourth quarter worth about $48,953,000. Finally, Junto Capital Management LP bought a new stake in shares of Capri in the fourth quarter worth about $26,112,000. 84.34% of the stock is currently 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.