Alpine Associates Management Inc. Sells 238,604 Shares of Capri Holdings Limited (NYSE:CPRI)

Alpine Associates Management Inc. decreased its holdings in shares of Capri Holdings Limited (NYSE:CPRI) by 15.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,262,110 shares of the company’s stock after selling 238,604 shares during the period. Capri accounts for approximately 2.0% of Alpine Associates Management Inc.’s portfolio, making the stock its 16th biggest position. Alpine Associates Management Inc.’s holdings in Capri were worth $41,751,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Brevan Howard Capital Management LP bought a new position in shares of Capri in the 4th quarter valued at about $3,153,000. Boulder Hill Capital Management LP acquired a new position in Capri during the fourth quarter valued at approximately $1,904,000. State Board of Administration of Florida Retirement System grew its stake in Capri by 17.6% in the first 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 purchasing an additional 23,294 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Capri during the 4th quarter worth approximately $1,533,000. Finally, Gabelli Funds LLC raised its stake in shares of Capri by 7.1% during the 1st quarter. Gabelli Funds LLC now owns 504,599 shares of the company’s stock worth $22,858,000 after purchasing an additional 33,550 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.

Capri Trading Down 2.6 %

Shares of CPRI stock opened at $38.22 on Monday. Capri Holdings Limited has a 12-month low of $29.28 and a 12-month high of $52.88. The company has a market capitalization of $4.46 billion, a PE ratio of -19.40, a price-to-earnings-growth ratio of 6.66 and a beta of 1.97. The firm has a 50 day moving average price of $34.32 and a two-hundred day moving average price of $36.90. The company has a quick ratio of 0.41, a current ratio of 0.95 and a debt-to-equity ratio of 0.79.

Capri (NYSE:CPRI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). Capri had a positive return on equity of 18.72% and a negative net margin of 5.81%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. As a group, analysts predict that Capri Holdings Limited will post 2.12 earnings per share for the current year.

Analyst Ratings Changes

CPRI has been the subject of several analyst reports. Citigroup cut shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Friday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $42.00 target price on shares of Capri in a report on Thursday, May 30th. StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Jefferies Financial Group lowered their price target on Capri from $57.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Finally, UBS Group cut their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.40.

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.