Fintel reports that on August 11, 2023, Citigroup downgraded their outlook for Capri Holdings (NYSE:CPRI) from Buy to Neutral.

Analyst Price Forecast Suggests 6.04% Downside

As of August 1, 2023, the average one-year price target for Capri Holdings is 50.65. The forecasts range from a low of 36.36 to a high of $71.40. The average price target represents a decrease of 6.04% from its latest reported closing price of 53.90.

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The projected annual revenue for Capri Holdings is 6,135MM, an increase of 11.79%. The projected annual non-GAAP EPS is 7.39.

What is the Fund Sentiment?

There are 791 funds or institutions reporting positions in Capri Holdings. This is a decrease of 48 owner(s) or 5.61% in the last quarter. Average portfolio weight of all funds dedicated to CPRI is 0.23%, a decrease of 15.46%. Total shares owned by institutions decreased in the last three months by 4.40% to 123,609K shares. The put/call ratio of CPRI is 0.80, indicating a bullish outlook.

What are Other Shareholders Doing?

Senvest Management holds 4,517K shares representing 3.85% ownership of the company. In it’s prior filing, the firm reported owning 6,829K shares, representing a decrease of 51.18%. The firm decreased its portfolio allocation in CPRI by 42.05% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,884K shares representing 3.31% ownership of the company. In it’s prior filing, the firm reported owning 3,986K shares, representing a decrease of 2.62%. The firm decreased its portfolio allocation in CPRI by 26.22% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 3,878K shares representing 3.30% ownership of the company. In it’s prior filing, the firm reported owning 3,977K shares, representing a decrease of 2.56%. The firm decreased its portfolio allocation in CPRI by 23.48% over the last quarter.

Primecap Management holds 3,709K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 3,523K shares, representing an increase of 5.03%. The firm decreased its portfolio allocation in CPRI by 17.77% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,290K shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 3,377K shares, representing a decrease of 2.65%. The firm decreased its portfolio allocation in CPRI by 23.34% over the last quarter.

Capri Holdings Background Information
(This description is provided by the company.)

Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The Company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA.

This article originally appeared on Fintel

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