Capri Holdings Limited (NYSE:CPRI) Short Interest Down 6.7% in October

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPRI. FMR LLC lifted its holdings in Capri by 389.2% during the third quarter. FMR LLC now owns 2,858,480 shares of the company’s stock worth $121,314,000 after acquiring an additional 2,274,149 shares in the last quarter. Baupost Group LLC MA bought a new stake in shares of Capri in the second quarter valued at about $33,080,000. DME Capital Management LP bought a new stake in shares of Capri in the second quarter valued at about $22,652,000. Primecap Management Co. CA lifted its holdings 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 in the last quarter. Finally, Khrom Capital Management LLC bought a new stake in shares of Capri in the first quarter valued at about $17,681,000. 84.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CPRI. UBS Group lowered their target price on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company lowered their target price on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. TD Cowen decreased their price objective on Capri from $57.00 to $22.00 and set a “hold” rating for the company in a research note on Friday. Finally, Telsey Advisory Group decreased their price objective on Capri from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.88.

Capri Stock Performance

CPRI stock opened at $20.92 on Monday. The business’s 50-day moving average price is $34.30 and its two-hundred day moving average price is $34.07. The company has a current ratio of 0.93, a quick ratio of 0.38 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.47 billion, a PE ratio of -6.86, a P/E/G ratio of 4.33 and a beta of 2.05. Capri has a 1-year low of $18.70 and a 1-year high of $51.23.

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.