Gabelli Funds LLC Sells 290,700 Shares of Capri Holdings Limited (NYSE:CPRI)

Gabelli Funds LLC trimmed its holdings in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) by 83.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,500 shares of the company's stock after selling 290,700 shares during the period. Gabelli Funds LLC's holdings in Capri were worth $1,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Capri by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 11,377,630 shares of the company's stock valued at $239,613,000 after purchasing an additional 151,866 shares during the period. Norges Bank acquired a new stake in shares of Capri in the fourth quarter valued at approximately $58,070,000. Primecap Management Co. CA boosted its stake in shares of Capri by 13.2% during the 4th quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company's stock worth $98,736,000 after acquiring an additional 547,578 shares during the period. Rule One Partners LLC acquired a new position in shares of Capri during the 3rd quarter worth approximately $2,483,000. Finally, Raymond James Financial Inc. bought a new stake in Capri in the 4th quarter valued at $2,167,000. Institutional investors and hedge funds own 84.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CPRI shares. StockNews.com raised shares of Capri from a "sell" rating to a "hold" rating in a research report on Friday, February 7th. Telsey Advisory Group cut their price objective on shares of Capri from $23.00 to $17.00 and set a "market perform" rating for the company in a research report on Friday, April 11th. Citigroup upgraded Capri from a "neutral" rating to a "buy" rating and increased their target price for the stock from $21.00 to $29.00 in a research note on Friday, January 10th. Bank of America initiated coverage on Capri in a research note on Monday, February 10th. They issued a "neutral" rating and a $23.00 price target for the company. Finally, Robert W. Baird lowered their price objective on Capri from $26.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $24.08.

Capri Price Performance

NYSE:CPRI traded up $0.31 during trading hours on Thursday, hitting $14.71. The company's stock had a trading volume of 3,180,533 shares, compared to its average volume of 3,120,199. Capri Holdings Limited has a twelve month low of $11.86 and a twelve month high of $43.34. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.21 and a quick ratio of 0.59. The stock has a fifty day simple moving average of $18.68 and a 200-day simple moving average of $22.87. The company has a market capitalization of $1.73 billion, a P/E ratio of -1.72, a PEG ratio of 7.80 and a beta of 1.77.

Capri (NYSE:CPRI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.27). Capri had a negative net margin of 21.79% and a positive return on equity of 12.89%. During the same quarter in the prior year, the business earned $1.20 EPS. On average, analysts anticipate that Capri Holdings Limited will post 0.98 EPS for the current fiscal year.

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.