MKM Partners Lowers Capri (NYSE:CPRI) Price Target to $35.00

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Capri (NYSE:CPRI) had its price objective decreased by MKM Partners to $35.00 in a report issued on Monday morning, The Fly reports. MKM Partners currently has a neutral rating on the stock.

A number of other research firms have also recently commented on CPRI. ValuEngine cut Capri from a sell rating to a strong sell rating in a report on Wednesday, April 24th. Needham & Company LLC reissued a buy rating and set a $50.00 price target (down from $54.00) on shares of Capri in a report on Thursday, August 8th. Nomura decreased their price target on Capri from $76.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, June 5th. Canaccord Genuity reissued a buy rating and set a $67.00 price target (down from $76.00) on shares of Capri in a report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Capri from a sell rating to a hold rating and set a $35.00 price target on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Capri currently has an average rating of Hold and an average price target of $50.08.

NYSE:CPRI opened at $26.99 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.02 and a debt-to-equity ratio of 1.61. The business’s 50-day simple moving average is $34.27 and its two-hundred day simple moving average is $40.48. The stock has a market cap of $4.58 billion, a PE ratio of 6.58, a P/E/G ratio of 1.08 and a beta of 0.73. Capri has a 52 week low of $26.61 and a 52 week high of $75.96.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Capri had a return on equity of 30.44% and a net margin of 7.45%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. Sell-side analysts anticipate that Capri will post 4.9 earnings per share for the current fiscal year.

In other news, CEO John D. Idol bought 615,000 shares of Capri stock in a transaction dated Monday, June 3rd. The shares were purchased at an average cost of $32.57 per share, with a total value of $20,030,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John D. Idol bought 363,000 shares of Capri stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $27.48 per share, for a total transaction of $9,975,240.00. The disclosure for this purchase can be found here. Insiders bought 989,600 shares of company stock worth $30,404,946 over the last ninety days. Insiders own 5.30% of the company’s stock.

Several hedge funds have recently modified their holdings of CPRI. Destination Wealth Management bought a new stake in Capri during the second quarter worth approximately $31,000. Coastal Investment Advisors Inc. bought a new stake in Capri during the second quarter worth approximately $31,000. Pearl River Capital LLC bought a new stake in Capri during the second quarter worth approximately $32,000. Signaturefd LLC bought a new stake in Capri during the first quarter worth approximately $40,000. Finally, CSat Investment Advisory L.P. bought a new stake in Capri during the first quarter worth approximately $46,000. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

Capri Company Profile

Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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