Zazove Associates LLC Purchases New Stake in Capri Holdings Limited (NYSE:CPRI)

Zazove Associates LLC bought a new stake in shares of Capri Holdings Limited (NYSE:CPRI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 25,000 shares of the company's stock, valued at approximately $526,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Capri by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 11,377,630 shares of the company's stock valued at $239,613,000 after acquiring an additional 151,866 shares during the last quarter. FMR LLC lifted its holdings in shares of Capri by 249.4% during the fourth quarter. FMR LLC now owns 9,987,603 shares of the company's stock worth $210,339,000 after buying an additional 7,129,123 shares during the last quarter. Primecap Management Co. CA grew its position in Capri by 13.2% in the 4th quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company's stock worth $98,736,000 after purchasing an additional 547,578 shares during the last quarter. Pacer Advisors Inc. increased its stake in Capri by 22,554.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,902,960 shares of the company's stock valued at $82,196,000 after acquiring an additional 3,885,732 shares during the period. Finally, Norges Bank bought a new position in Capri in the fourth quarter worth $58,070,000. 84.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CPRI. Citigroup raised Capri from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $21.00 to $29.00 in a report on Friday, January 10th. Jefferies Financial Group boosted their price target on shares of Capri from $20.00 to $23.00 and gave the company a "hold" rating in a report on Tuesday, January 28th. StockNews.com raised Capri from a "sell" rating to a "hold" rating in a research note on Friday, February 7th. Wells Fargo & Company lowered their price target on Capri from $30.00 to $25.00 and set an "overweight" rating for the company in a report on Friday. Finally, Robert W. Baird dropped their target price on shares of Capri from $26.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $24.08.

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Capri Price Performance

Shares of NYSE CPRI traded down $0.38 during trading hours on Monday, hitting $14.27. 1,813,874 shares of the stock were exchanged, compared to its average volume of 3,115,833. Capri Holdings Limited has a 1-year low of $11.86 and a 1-year high of $43.34. The company's fifty day simple moving average is $20.00 and its two-hundred day simple moving average is $24.16. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.59 and a current ratio of 1.21. The company has a market cap of $1.68 billion, a PE ratio of -1.67, a price-to-earnings-growth 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 EPS for the quarter, missing analysts' consensus estimates 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 period last year, the business earned $1.20 EPS. On average, sell-side analysts predict that Capri Holdings Limited will post 0.98 EPS for the current year.

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.