AE Wealth Management LLC Acquires New Position in Capri Holdings Limited (NYSE:CPRI)

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AE Wealth Management LLC acquired a new stake in shares of Capri Holdings Limited (NYSE:CPRI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,176 shares of the company’s stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRI. Clearbridge Investments LLC grew its position in Capri by 5,191.4% during the second quarter. Clearbridge Investments LLC now owns 416,961 shares of the company’s stock valued at $23,846,000 after purchasing an additional 409,081 shares in the last quarter. Senvest Management LLC grew its position in Capri by 9.5% during the second quarter. Senvest Management LLC now owns 4,149,385 shares of the company’s stock valued at $237,303,000 after purchasing an additional 360,140 shares in the last quarter. State Street Corp grew its position in Capri by 8.0% during the second quarter. State Street Corp now owns 4,167,599 shares of the company’s stock valued at $238,345,000 after purchasing an additional 309,729 shares in the last quarter. Greenlight Capital Inc. grew its position in Capri by 157.9% during the second quarter. Greenlight Capital Inc. now owns 492,500 shares of the company’s stock valued at $28,167,000 after purchasing an additional 301,500 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Capri during the second quarter valued at approximately $17,044,000. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:CPRI opened at $64.91 on Friday. The stock has a market cap of $9.77 billion, a P/E ratio of 24.22, a PEG ratio of 0.36 and a beta of 2.53. Capri Holdings Limited has a one year low of $40.25 and a one year high of $69.26. The company has a fifty day moving average price of $61.96 and a 200 day moving average price of $56.76. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.10 and a quick ratio of 0.53.

Capri (NYSE:CPRI) last released its earnings results on Wednesday, November 3rd. The company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.58. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Capri had a net margin of 8.21% and a return on equity of 32.00%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. As a group, equities research analysts anticipate that Capri Holdings Limited will post 5.34 EPS for the current year.

Capri announced that its board has authorized a stock buyback program on Wednesday, November 3rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In other news, CEO John D. Idol sold 368,686 shares of the company’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $65.87, for a total value of $24,285,346.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John D. Idol sold 202,175 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $65.12, for a total transaction of $13,165,636.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 571,644 shares of company stock valued at $37,501,400. Corporate insiders own 2.70% of the company’s stock.

Several analysts have commented on CPRI shares. JPMorgan Chase & Co. boosted their target price on shares of Capri from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, December 9th. TheStreet raised shares of Capri from a “c+” rating to a “b-” rating in a research report on Monday, November 22nd. MKM Partners boosted their target price on shares of Capri from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, November 4th. Telsey Advisory Group boosted their target price on shares of Capri from $62.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, November 4th. Finally, BTIG Research decreased their target price on shares of Capri from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Monday, November 1st. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Capri presently has a consensus rating of “Buy” and an average target price of $74.74.

Capri Company Profile

Capri Holdings Ltd. operates as a global fashion luxury group. It engages in the design and distribution of sportswear, accessories, footwear and apparel of branded women’s apparel and accessories and men’s apparel. The firm operates through the following segments: Versace, Jimmy Choo, and Michael Kors.

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