Capri Holdings Limited (NYSE:CPRI) Sees Significant Decrease in Short Interest

Capri Holdings Limited (NYSE:CPRI - Get Free Report) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 7,920,000 shares, a decrease of 6.7% from the October 15th total of 8,490,000 shares. Approximately 6.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,640,000 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

A number of brokerages have weighed in on CPRI. StockNews.com lowered Capri from a "hold" rating to a "sell" rating in a report on Tuesday, August 27th. TD Cowen reduced their target price on shares of Capri from $57.00 to $22.00 and set a "hold" rating for the company in a research report on Friday. Robert W. Baird lowered their price target on shares of Capri from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. Citigroup downgraded shares of Capri from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a report on Friday, September 13th. Finally, Wells Fargo & Company lowered their price objective on Capri from $42.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.88.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CPRI. State Board of Administration of Florida Retirement System raised its stake in Capri by 17.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 155,580 shares of the company's stock valued at $7,312,000 after acquiring an additional 23,294 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Capri by 82.4% during the first quarter. Bessemer Group Inc. now owns 1,330 shares of the company's stock worth $60,000 after purchasing an additional 601 shares during the period. Natixis grew its position in Capri by 71.6% in the 1st quarter. Natixis now owns 236,888 shares of the company's stock valued at $10,731,000 after buying an additional 98,809 shares during the last quarter. Carlson Capital L P increased its stake in 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 buying an additional 20,000 shares during the period. Finally, JT Stratford LLC purchased a new position in Capri during the 1st quarter worth $776,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Capri Stock Down 1.9 %

Shares of NYSE:CPRI traded down $0.40 during trading hours on Monday, reaching $20.60. The stock had a trading volume of 3,884,251 shares, compared to its average volume of 2,084,274. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -6.72, a P/E/G ratio of 4.33 and a beta of 2.05. The firm's 50 day moving average is $34.30 and its 200-day moving average is $34.07. Capri has a 1 year low of $18.70 and a 1 year high of $51.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.38 and a current ratio of 0.93.

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.