Cadence Capital Management LLC bought a new stake in Capri Holdings Ltd (NYSE:CPRI) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 18,352 shares of the company’s stock, valued at approximately $840,000.
Several other hedge funds have also modified their holdings of the business. CenterStar Asset Management LLC bought a new position in shares of Capri in the 1st quarter valued at $49,000. Quadrant Capital Group LLC bought a new position in shares of Capri in the 1st quarter valued at $54,000. Asset Dedication LLC bought a new position in shares of Capri in the 1st quarter valued at $55,000. Focused Wealth Management Inc bought a new position in shares of Capri in the 1st quarter valued at $55,000. Finally, NuWave Investment Management LLC bought a new position in shares of Capri in the 1st quarter valued at $76,000. 78.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on CPRI shares. UBS Group dropped their price target on Capri from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Needham & Company LLC lowered their target price on Capri from $67.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, February 1st. Canaccord Genuity set a $76.00 target price on Capri and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research raised Capri from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Wednesday, May 8th. Finally, Guggenheim reaffirmed a “hold” rating on shares of Capri in a research report on Wednesday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $58.29.
Capri Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.
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