Capri (NYSE:CPRI) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Capri (NYSE:CPRI - Free Report) from an equal weight rating to an overweight rating in a report issued on Friday morning, Marketbeat reports. Wells Fargo & Company currently has $28.00 price objective on the stock, up from their previous price objective of $20.00.

Several other brokerages also recently issued reports on CPRI. Robert W. Baird reduced their price target on shares of Capri from $24.00 to $23.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. Telsey Advisory Group lowered their target price on Capri from $26.00 to $23.00 and set a "market perform" rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. raised their price target on Capri from $15.00 to $19.00 and gave the stock a "neutral" rating in a research report on Monday, December 16th. BMO Capital Markets upgraded Capri from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $25.00 to $31.00 in a research report on Monday. Finally, Citigroup cut Capri from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.55.

Capri Price Performance

Shares of CPRI traded up $2.21 on Friday, reaching $23.72. The stock had a trading volume of 5,189,725 shares, compared to its average volume of 2,910,118. The firm has a 50-day moving average of $21.35 and a 200 day moving average of $30.62. The firm has a market capitalization of $2.80 billion, a PE ratio of -7.75, a PEG ratio of 4.55 and a beta of 2.06. Capri has a twelve month low of $18.70 and a twelve month high of $51.23. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83.

Hedge Funds Weigh In On Capri

A number of hedge funds and other institutional investors have recently bought and sold shares of CPRI. FMR LLC increased its position in Capri by 389.2% in the third quarter. FMR LLC now owns 2,858,480 shares of the company's stock worth $121,314,000 after buying an additional 2,274,149 shares during the period. Baupost Group LLC MA bought a new stake in Capri in the 2nd quarter valued at about $33,080,000. DME Capital Management LP acquired a new position in Capri during the 2nd quarter valued at about $22,652,000. Oddo BHF Asset Management Sas bought a new position in Capri in the 3rd quarter worth about $25,888,000. Finally, Primecap Management Co. CA increased its stake in shares of Capri by 14.2% in the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company's stock valued at $175,734,000 after purchasing an additional 515,963 shares during the period. 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.