Investors Buy High Volume of Put Options on Capri (NYSE:CPRI)

Capri Holdings Limited (NYSE:CPRI) was the target of unusually large options trading activity on Wednesday. Investors purchased 16,139 put options on the company. This represents an increase of 24% compared to the typical daily volume of 12,990 put options.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CPRI shares. Telsey Advisory Group lowered their price objective on shares of Capri from $57.00 to $42.00 and set a “market perform” rating on the stock in a research report on Tuesday. OTR Global reiterated a “mixed” rating on shares of Capri in a research report on Wednesday, April 17th. Finally, StockNews.com started coverage on shares of Capri in a research report on Saturday, April 13th. They issued a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.25.

Hedge Funds Weigh In On Capri

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Capri during the 4th quarter worth approximately $166,766,000. Alpine Associates Management Inc. raised its position in shares of Capri by 0.3% in the 4th quarter. Alpine Associates Management Inc. now owns 2,447,800 shares of the company’s stock valued at $122,977,000 after purchasing an additional 8,200 shares in the last quarter. Westchester Capital Management LLC raised its position in shares of Capri by 31.5% in the 4th quarter. Westchester Capital Management LLC now owns 2,184,170 shares of the company’s stock valued at $109,733,000 after purchasing an additional 523,796 shares in the last quarter. TIG Advisors LLC raised its position in shares of Capri by 9.3% in the 4th quarter. TIG Advisors LLC now owns 1,863,562 shares of the company’s stock valued at $93,625,000 after purchasing an additional 158,303 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Capri by 82.8% in the 4th quarter. Franklin Resources Inc. now owns 1,669,441 shares of the company’s stock valued at $83,873,000 after purchasing an additional 756,425 shares in the last quarter. 84.34% of the stock is owned by institutional investors and hedge funds.

Capri Trading Down 4.2 %

CPRI traded down $1.53 during midday trading on Wednesday, hitting $34.98. The company’s stock had a trading volume of 2,548,755 shares, compared to its average volume of 1,323,243. The company has a current ratio of 1.06, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.08 billion, a P/E ratio of 20.51, a PEG ratio of 7.71 and a beta of 2.03. The firm has a 50-day moving average price of $44.54 and a two-hundred day moving average price of $47.78. Capri has a 52-week low of $34.17 and a 52-week high of $54.52.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.54). Capri had a net margin of 3.96% and a return on equity of 25.79%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts anticipate that Capri will post 3.8 earnings per share for the current year.

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.