Capri Holdings Limited (NYSE:CPRI) Sees Significant Decline in Short Interest

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CPRI. Primecap Management Co. CA boosted its position in shares of Capri by 14.2% during the third quarter. Primecap Management Co. CA now owns 4,140,755 shares of the company’s stock valued at $175,734,000 after buying an additional 515,963 shares during the last quarter. FMR LLC boosted its holdings in shares of Capri by 389.2% during the 3rd quarter. FMR LLC now owns 2,858,480 shares of the company’s stock valued at $121,314,000 after acquiring an additional 2,274,149 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Capri by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,942,145 shares of the company’s stock worth $82,446,000 after acquiring an additional 41,009 shares during the period. Dimensional Fund Advisors LP lifted its position in Capri by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,587,602 shares of the company’s stock valued at $52,514,000 after purchasing an additional 68,081 shares during the period. Finally, Baupost Group LLC MA bought a new stake in Capri in the 2nd quarter worth approximately $33,080,000. Institutional investors own 84.34% of the company’s stock.

Capri Stock Performance

Shares of CPRI opened at $20.61 on Tuesday. Capri has a 1-year low of $18.70 and a 1-year high of $51.23. The firm’s 50-day moving average price is $34.30 and its 200-day moving average price is $34.07. The company has a quick ratio of 0.38, a current ratio of 0.93 and a debt-to-equity ratio of 0.83.

Analyst Upgrades and Downgrades

CPRI has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Capri from $57.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, October 25th. TD Cowen cut their target price on Capri from $57.00 to $22.00 and set a “hold” rating on the stock in a report on Friday. UBS Group dropped their price target on shares of Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Robert W. Baird decreased their price target on Capri from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Citigroup downgraded shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, Capri presently has a consensus rating of “Hold” and a consensus target price 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.