Sun Sep 15 10:56:58 UTC 2024: ## Texas School Fund Invests in Capri Holdings, Other Institutional Investors Follow Suit

**New York, NY – September 15, 2024** – The Texas Permanent School Fund Corp has increased its stake in luxury goods conglomerate Capri Holdings Limited (NYSE:CPRI) by 13% during the second quarter, according to a recent SEC filing. The fund now owns 115,305 shares, representing approximately 0.10% of Capri, valued at $3,814,000.

This investment follows a trend of institutional investors showing interest in Capri. Arizona State Retirement System boosted its stake by 2.2%, while Hohimer Wealth Management LLC and Cannon Global Investment Management LLC both acquired new positions in the company during the second quarter. Avory & Company LLC and Deuterium Capital Management LLC also increased their holdings significantly.

Despite these investments, analysts remain cautious about Capri’s future. Jefferies Financial Group lowered its price target to $38.00 and maintained a “hold” rating, while Wells Fargo & Company dropped its target to $42.00 but kept an “overweight” rating. Telsey Advisory Group reiterated a “market perform” rating, while Citigroup downgraded the company from “buy” to “neutral.”

Capri’s recent earnings report revealed a miss on both earnings per share and revenue expectations for the second quarter. The company reported $0.04 EPS, falling short of the anticipated $0.59, while revenue reached $1.07 billion compared to the estimated $1.16 billion.

Despite the mixed signals, Capri’s stock opened at $38.22 on Friday, with a market cap of $4.46 billion. The company designs and distributes luxury brands like Versace, Jimmy Choo, and Michael Kors through various channels, including boutiques, department stores, and online platforms.

Institutional investors and hedge funds collectively own 84.34% of Capri’s stock, suggesting continued confidence in the company’s long-term prospects despite recent challenges.

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