Cowen and Company Reiterates Hold Rating for Michael Kors Holdings Limited (NYSE:KORS)

Cowen and Company restated their hold rating on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research note published on Friday, November 10th.

KORS has been the topic of a number of other research reports. Jefferies Group LLC reissued a buy rating on shares of Michael Kors Holdings Limited in a report on Friday, November 10th. Deutsche Bank AG increased their price objective on shares of Michael Kors Holdings Limited from $46.00 to $56.00 and gave the stock a hold rating in a report on Wednesday, November 8th. Zacks Investment Research raised shares of Michael Kors Holdings Limited from a hold rating to a strong-buy rating and set a $63.00 target price on the stock in a research note on Wednesday, November 8th. TheStreet raised shares of Michael Kors Holdings Limited from a c+ rating to a b rating in a research note on Monday, November 6th. Finally, Barclays PLC raised their target price on shares of Michael Kors Holdings Limited from $44.00 to $58.00 and gave the company an equal weight rating in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $49.84.

Shares of Michael Kors Holdings Limited (KORS) opened at $56.61 on Friday. The stock has a market cap of $8,565.92, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.90 and a beta of 0.05. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $56.72.

Michael Kors Holdings Limited (NYSE:KORS) last announced its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.50. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 EPS. equities analysts predict that Michael Kors Holdings Limited will post 3.96 EPS for the current year.

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

A number of institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd purchased a new position in Michael Kors Holdings Limited in the 3rd quarter worth approximately $288,000. California Public Employees Retirement System increased its stake in Michael Kors Holdings Limited by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 500,027 shares of the lifestyle brand’s stock worth $23,926,000 after purchasing an additional 14,927 shares during the period. Janus Henderson Group PLC increased its stake in Michael Kors Holdings Limited by 58.8% in the 3rd quarter. Janus Henderson Group PLC now owns 64,058 shares of the lifestyle brand’s stock worth $3,065,000 after purchasing an additional 23,717 shares during the period. Vident Investment Advisory LLC purchased a new position in Michael Kors Holdings Limited in the 3rd quarter worth approximately $704,000. Finally, Asset Management One Co. Ltd. increased its stake in Michael Kors Holdings Limited by 5,343.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 237,226 shares of the lifestyle brand’s stock worth $11,351,000 after purchasing an additional 232,868 shares during the period. 87.20% of the stock is currently owned by institutional investors and hedge funds.

About Michael Kors Holdings Limited

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 Holdings Limited (NYSE:KORS)

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