Capri Target of Unusually High Options Trading (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRI) saw some unusual options trading activity on Wednesday. Stock investors acquired 23,357 call options on the company. This represents an increase of approximately 99% compared to the typical daily volume of 11,761 call options.

Institutional Investors Weigh In On Capri

Several hedge funds have recently modified their holdings of the business. Baupost Group LLC MA bought a new position in Capri in the second quarter worth about $33,080,000. DME Capital Management LP bought a new position in shares of Capri during the 2nd quarter worth approximately $22,652,000. Khrom Capital Management LLC purchased a new stake in Capri during the first quarter valued at approximately $17,681,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in Capri in the first quarter valued at approximately $13,008,000. Finally, Clearline Capital LP purchased a new position in Capri in the second quarter worth $9,362,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Capri Price Performance

Shares of NYSE:CPRI traded up $0.28 during mid-day trading on Wednesday, reaching $42.90. The stock had a trading volume of 399,648 shares, compared to its average volume of 1,343,870. The company has a market cap of $5.00 billion, a P/E ratio of -21.63, a price-to-earnings-growth ratio of 6.27 and a beta of 1.97. The business’s 50 day moving average price is $36.36 and its 200 day moving average price is $36.18. The company has a current ratio of 0.95, a quick ratio of 0.41 and a debt-to-equity ratio of 0.79. Capri has a 1 year low of $29.28 and a 1 year high of $52.19.

Capri (NYSE:CPRI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Capri had a negative net margin of 5.81% and a positive return on equity of 18.72%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $0.74 EPS. Capri’s revenue for the quarter was down 13.2% compared to the same quarter last year. Research analysts expect that Capri will post 2.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CPRI. Citigroup lowered shares of Capri from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, September 13th. Wells Fargo & Company decreased their price target on shares of Capri from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com downgraded shares of Capri from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Finally, UBS Group decreased their target price on Capri from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.40.

Capri Company 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.