ARGA Investment Management LP Purchases 78,585 Shares of Capri Holdings Limited (NYSE:CPRI)

ARGA Investment Management LP boosted its position in Capri Holdings Limited (NYSE:CPRI) by 613.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,401 shares of the company’s stock after acquiring an additional 78,585 shares during the quarter. ARGA Investment Management LP owned 0.08% of Capri worth $3,879,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CPRI. Riverwater Partners LLC bought a new position in shares of Capri in the third quarter worth about $1,030,000. Primecap Management Co. CA increased its position in Capri by 14.2% during the 3rd quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock worth $175,734,000 after purchasing an additional 515,963 shares in the last quarter. Senvest Management LLC bought a new position in Capri in the 3rd quarter valued at approximately $6,610,000. Anthracite Investment Company Inc. acquired a new stake in Capri in the third quarter valued at approximately $7,869,000. Finally, Aristides Capital LLC bought a new stake in shares of Capri during the second quarter worth $1,865,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Capri Stock Performance

CPRI stock opened at $23.41 on Friday. Capri Holdings Limited has a 1-year low of $18.70 and a 1-year high of $51.23. The stock has a 50-day moving average price of $30.87 and a 200-day moving average price of $33.07. 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 $2.76 billion, a PE ratio of -7.65, a price-to-earnings-growth ratio of 4.99 and a beta of 2.05.

Analyst Upgrades and Downgrades

CPRI has been the subject of a number of research reports. TD Cowen dropped their price target 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 dropped their target price on Capri from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Telsey Advisory Group reduced their price target on Capri from $26.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, November 15th. Guggenheim upgraded shares of Capri from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday, November 26th. Finally, Robert W. Baird cut their target price on shares of Capri from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.20.

Capri 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.