Credit Agricole SA started coverage on shares of Michael Kors Holdings Ltd. (NYSE:KORS) in a research report report published on Wednesday morning. The brokerage issued a sell rating and a $45.00 target price on the lifestyle brand’s stock.
A number of other analysts also recently weighed in on the stock. Vetr downgraded shares of Michael Kors Holdings from a strong-buy rating to a buy rating and set a $56.16 price target for the company. in a report on Monday, September 26th. Credit Suisse Group AG reaffirmed a hold rating and set a $55.00 price target on shares of Michael Kors Holdings in a report on Tuesday, September 13th. Jefferies Group reaffirmed a buy rating on shares of Michael Kors Holdings in a report on Monday, September 12th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $64.00 price target on shares of Michael Kors Holdings in a report on Thursday, September 8th. Finally, Citigroup Inc. reaffirmed a neutral rating and set a $51.00 price target on shares of Michael Kors Holdings in a report on Saturday, August 13th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $53.60.
Shares of Michael Kors Holdings (NYSE:KORS) opened at 46.44 on Wednesday. The firm’s 50-day moving average is $48.98 and its 200-day moving average is $49.91. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 10.48 and a beta of 0.89. Michael Kors Holdings has a 12-month low of $34.83 and a 12-month high of $59.49.
Michael Kors Holdings (NYSE:KORS) last announced its earnings results on Wednesday, August 10th. The lifestyle brand reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.14. Michael Kors Holdings had a net margin of 17.33% and a return on equity of 43.05%. The firm had revenue of $987.90 million for the quarter, compared to analyst estimates of $954.13 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue was up .2% compared to the same quarter last year. Analysts predict that Michael Kors Holdings will post $4.57 earnings per share for the current fiscal year.
In other Michael Kors Holdings news, SVP Lee S. Sporn sold 4,700 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $50.00, for a total value of $235,000.00. Following the completion of the sale, the senior vice president now directly owns 22,653 shares in the company, valued at $1,132,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lee S. Sporn sold 26,341 shares of the firm’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $50.02, for a total transaction of $1,317,576.82. Following the completion of the sale, the senior vice president now owns 40,707 shares of the company’s stock, valued at $2,036,164.14. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Palisade Capital Management LLC NJ bought a new stake in Michael Kors Holdings during the first quarter worth approximately $357,000. NN Investment Partners Holdings N.V. bought a new stake in Michael Kors Holdings during the first quarter worth approximately $2,182,000. Acrospire Investment Management LLC bought a new stake in Michael Kors Holdings during the first quarter worth approximately $273,000. Massmutual Trust Co. FSB ADV boosted its stake in Michael Kors Holdings by 121,755.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 46,305 shares of the lifestyle brand’s stock worth $2,638,000 after buying an additional 46,267 shares during the last quarter. Finally, Howard Hughes Medical Institute boosted its stake in Michael Kors Holdings by 29.8% in the first quarter. Howard Hughes Medical Institute now owns 57,265 shares of the lifestyle brand’s stock worth $3,262,000 after buying an additional 13,147 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.
Michael Kors Holdings Company Profile
Michael Kors Holdings Limited is a global accessories, footwear and apparel company. The Company operates its business in three segments: retail, wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection, it offers accessories, including handbags and small leather goods, many of which are made from leathers and other exotic skins, footwear and apparel, including ready-to-wear women swear and menswear.
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