Alpine Associates Management Inc. Cuts Stake in Capri Holdings Limited (NYSE:CPRI)

Alpine Associates Management Inc. decreased its position in Capri Holdings Limited (NYSE:CPRI) by 21.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 992,169 shares of the company’s stock after selling 269,941 shares during the period. Capri comprises 1.9% of Alpine Associates Management Inc.’s portfolio, making the stock its 14th largest holding. Alpine Associates Management Inc.’s holdings in Capri were worth $42,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baupost Group LLC MA purchased a new position in Capri in the second quarter worth $33,080,000. DME Capital Management LP acquired a new position in shares of Capri during the 2nd quarter worth $22,652,000. Khrom Capital Management LLC purchased a new position in shares of Capri in the 1st quarter valued at about $17,681,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Capri in the first quarter valued at about $13,008,000. Finally, Clearline Capital LP purchased a new stake in Capri during the second quarter worth about $9,362,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Capri Price Performance

Shares of NYSE CPRI opened at $20.05 on Wednesday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -6.55, a PEG ratio of 4.33 and a beta of 2.05. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.93 and a quick ratio of 0.38. Capri Holdings Limited has a 1-year low of $18.70 and a 1-year high of $51.23. The business has a 50-day moving average of $33.62 and a 200-day moving average of $33.85.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com cut shares of Capri from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. TD Cowen dropped 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, November 15th. UBS Group reduced their price objective on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. 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. Finally, Wells Fargo & Company dropped their price target on Capri from $42.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.88.

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.