Cedar Wealth Management LLC Cuts Stock Position in Capri Holdings Limited (NYSE:CPRI)

Cedar Wealth Management LLC lessened its holdings in shares of Capri Holdings Limited (NYSE:CPRI) by 37.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,092 shares of the company’s stock after selling 8,454 shares during the quarter. Cedar Wealth Management LLC’s holdings in Capri were worth $297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in shares of Capri during the 3rd quarter valued at about $42,000. Twin Tree Management LP purchased a new stake in shares of Capri during the fourth quarter worth approximately $45,000. Quarry LP purchased a new stake in shares of Capri during the third quarter worth approximately $53,000. KBC Group NV increased its stake in Capri by 63.9% in the fourth quarter. KBC Group NV now owns 5,039 shares of the company’s stock valued at $106,000 after purchasing an additional 1,965 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Capri by 15.2% in the third quarter. Avior Wealth Management LLC now owns 4,033 shares of the company’s stock valued at $171,000 after purchasing an additional 533 shares during the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.

Capri Price Performance

Shares of Capri stock opened at $20.23 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.21 and a quick ratio of 0.59. Capri Holdings Limited has a fifty-two week low of $18.53 and a fifty-two week high of $46.09. The firm has a fifty day moving average price of $22.45 and a two-hundred day moving average price of $26.64. The company has a market cap of $2.38 billion, a PE ratio of -2.37, a price-to-earnings-growth ratio of 7.80 and a beta of 2.10.

Capri (NYSE:CPRI) last announced its earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.27). Capri had a positive return on equity of 12.89% and a negative net margin of 21.79%. During the same quarter last year, the firm posted $1.20 EPS. Analysts expect that Capri Holdings Limited will post 0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRI has been the subject of several recent research reports. Citigroup raised Capri from a “neutral” rating to a “buy” rating and increased their price target for the stock from $21.00 to $29.00 in a report on Friday, January 10th. Wells Fargo & Company increased their price target on shares of Capri from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Telsey Advisory Group restated a “market perform” rating and set a $23.00 target price on shares of Capri in a research report on Thursday, February 20th. Barclays decreased their target price on shares of Capri from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, BMO Capital Markets upgraded shares of Capri from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $25.00 to $31.00 in a report on Monday, January 6th. Nine research 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, Capri presently has an average rating of “Hold” and an average price target of $25.92.

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.