Capri (NYSE:CPRI) Hits New 52-Week Low – What’s Next?

Shares of Capri Holdings Limited (NYSE:CPRI) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.55 and last traded at $18.55, with a volume of 1213997 shares trading hands. The stock had previously closed at $19.65.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CPRI shares. Robert W. Baird decreased their price objective 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. JPMorgan Chase & Co. dropped their price target on Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Telsey Advisory Group reduced their price objective on Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday. UBS Group lowered their target price on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Citigroup cut Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Friday, September 13th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, Capri presently has an average rating of “Hold” and a consensus target price of $28.88.

Capri Stock Performance

The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.48 billion, a P/E ratio of -6.86, a PEG ratio of 3.84 and a beta of 2.05. The firm has a fifty day moving average of $34.30 and a 200-day moving average of $34.08.

Hedge Funds Weigh In On Capri

Several large investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Capri by 389.2% during the 3rd quarter. FMR LLC now owns 2,858,480 shares of the company’s stock valued at $121,314,000 after acquiring an additional 2,274,149 shares during the last quarter. Baupost Group LLC MA bought a new stake in Capri in the second quarter valued at about $33,080,000. DME Capital Management LP acquired a new position in Capri in the second quarter valued at about $22,652,000. Primecap Management Co. CA boosted its holdings in Capri by 14.2% during the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after buying an additional 515,963 shares during the last quarter. Finally, Khrom Capital Management LLC acquired a new position in shares of Capri during the 1st quarter worth about $17,681,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

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.