Primecap Management Co. CA Increases Stake in Capri Holdings Limited (NYSE:CPRI)

Primecap Management Co. CA grew its position in shares of Capri Holdings Limited (NYSE:CPRI) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,140,755 shares of the company’s stock after buying an additional 515,963 shares during the quarter. Primecap Management Co. CA’s holdings in Capri were worth $175,734,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CPRI. Bessemer Group Inc. increased its holdings in shares of Capri by 82.4% in the 1st quarter. Bessemer Group Inc. now owns 1,330 shares of the company’s stock valued at $60,000 after purchasing an additional 601 shares in the last quarter. JT Stratford LLC purchased a new position in Capri during the 1st quarter valued at about $776,000. Gabelli Funds LLC increased its holdings in Capri by 7.1% during the 1st quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock valued at $22,858,000 after acquiring an additional 33,550 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Capri by 6.6% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 431,950 shares of the company’s stock valued at $19,567,000 after acquiring an additional 26,650 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new position in Capri during the 1st quarter valued at about $1,470,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Capri Price Performance

CPRI opened at $20.07 on Thursday. The company’s 50 day simple moving average is $33.62 and its 200 day simple moving average is $33.85. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93. Capri Holdings Limited has a 1 year low of $18.70 and a 1 year high of $51.23. The stock has a market capitalization of $2.37 billion, a PE ratio of -6.56, a P/E/G ratio of 2.76 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CPRI. Wells Fargo & Company dropped their target price on shares of Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Robert W. Baird decreased their price target on shares of Capri from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. TD Cowen decreased their price target on shares of Capri from $57.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Citigroup cut shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Friday, September 13th. Finally, StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Capri Company Profile

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.