Capri (NYSE:CPRI) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Capri (NYSE:CPRI) from an overweight rating to an equal weight rating in a research note published on Thursday, MarketBeat reports. The brokerage currently has $42.00 target price on the stock.

CPRI has been the subject of several other research reports. Citigroup downgraded shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Friday, September 13th. StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, UBS Group lowered their target price 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 investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.40.

Capri Stock Down 0.7 %

Shares of NYSE CPRI opened at $42.61 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.41. The firm’s 50-day moving average is $37.81 and its two-hundred day moving average is $36.20. Capri has a 12-month low of $29.28 and a 12-month high of $51.99. The company has a market capitalization of $4.97 billion, a PE ratio of -21.63, a price-to-earnings-growth ratio of 7.08 and a beta of 1.97.

Capri (NYSE:CPRI) last announced its earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $0.74 EPS. Capri’s quarterly revenue was down 13.2% compared to the same quarter last year. Equities analysts anticipate that Capri will post 2.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Capri

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Capri by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,587,602 shares of the company’s stock worth $52,514,000 after buying an additional 68,081 shares during the period. Baupost Group LLC MA purchased a new position in shares of Capri in the 2nd quarter worth about $33,080,000. Carlson Capital L P lifted its stake in shares of Capri by 2.1% in the 1st quarter. Carlson Capital L P now owns 955,000 shares of the company’s stock valued at $43,262,000 after purchasing an additional 20,000 shares in the last quarter. Samlyn Capital LLC grew its holdings in shares of Capri by 8.3% during the 2nd quarter. Samlyn Capital LLC now owns 795,258 shares of the company’s stock worth $26,307,000 after purchasing an additional 61,232 shares during the period. Finally, DME Capital Management LP acquired a new stake in Capri during the 2nd quarter worth approximately $22,652,000. Institutional investors and hedge funds own 84.34% of the company’s stock.

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.