Capri Holdings Limited (CPRI) is experiencing a decline in its stock price today, which may be attributed to a significant reduction in institutional ownership. Charles Schwab Investment Management Inc. has notably decreased its holdings in Capri by 23.3% during the third quarter, as revealed in a recent SEC filing. This reduction involved the sale of 282,838 shares, leaving Schwab with 930,413 shares, representing approximately 0.79% of Capri's total shares. Such a substantial divestment by a major institutional investor can often lead to downward pressure on a stock's price, as it may signal a lack of confidence in the company's near-term prospects.
The current price of Capri Holdings Limited is $22.75, reflecting a 2.72% decrease from the previous close of $23.38 and a 2.38% drop from the opening price of $23.30.