Michael Kors Holdings Limited (KORS) Rating Increased to B at TheStreet

TheStreet upgraded shares of Michael Kors Holdings Limited (NYSE:KORS) from a c+ rating to a b rating in a report released on Monday, November 6th.

Other analysts have also recently issued reports about the company. Piper Jaffray Companies set a $46.00 price objective on Michael Kors and gave the company a hold rating in a research note on Tuesday, August 8th. Nomura increased their target price on Michael Kors from $41.00 to $51.00 and gave the company a buy rating in a report on Wednesday, August 9th. Telsey Advisory Group increased their target price on Michael Kors from $38.00 to $49.00 and gave the company a market perform rating in a report on Wednesday, August 9th. Buckingham Research increased their target price on Michael Kors from $34.00 to $46.00 and gave the company a neutral rating in a report on Wednesday, August 9th. Finally, BMO Capital Markets reissued a market perform rating and issued a $46.00 target price (up previously from $35.00) on shares of Michael Kors in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Michael Kors presently has an average rating of Hold and a consensus target price of $49.84.

Michael Kors (NYSE:KORS) remained flat at $$56.61 during trading hours on Monday. The company’s stock had a trading volume of 917,145 shares, compared to its average volume of 3,042,280. Michael Kors has a 52-week low of $32.38 and a 52-week high of $57.10. The company has a market capitalization of $8,608.50, a price-to-earnings ratio of 12.58, a PEG ratio of 1.91 and a beta of 0.05.

Michael Kors (NYSE:KORS) last released its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.50. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. research analysts predict that Michael Kors will post 3.96 EPS for the current fiscal year.

In other news, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the completion of the sale, the senior vice president now directly owns 10,647 shares in the company, valued at approximately $595,486.71. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John D. Idol sold 500 shares of Michael Kors stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total transaction of $27,560.00. Following the sale, the chief executive officer now owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,000 shares of company stock valued at $554,235. 6.00% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Michael Kors during the 2nd quarter valued at approximately $114,000. Sandy Spring Bank increased its stake in shares of Michael Kors by 0.9% during the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after purchasing an additional 40 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Michael Kors by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after purchasing an additional 2,325 shares in the last quarter. Creative Planning increased its stake in shares of Michael Kors by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after purchasing an additional 1,180 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Michael Kors during the 2nd quarter worth approximately $188,000. Institutional investors own 87.20% of the company’s stock.

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Michael Kors Company Profile

Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.

Analyst Recommendations for Michael Kors (NYSE:KORS)

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