Deutsche Bank AG Reiterates “$46.00” Price Target for Michael Kors Holdings Limited (KORS)

Michael Kors Holdings Limited (NYSE:KORS) received a $46.00 price target from Deutsche Bank AG in a research report issued on Thursday. The brokerage presently has a “hold” rating on the lifestyle brand’s stock. Deutsche Bank AG’s price target indicates a potential upside of 0.48% from the company’s previous close.

KORS has been the topic of several other reports. BMO Capital Markets set a $38.00 price objective on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $35.00 price objective (down from $44.00) on shares of Michael Kors Holdings Limited in a report on Thursday, June 1st. Credit Suisse Group set a $36.00 price objective on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC set a $65.00 price objective on shares of Michael Kors Holdings Limited and gave the company a “buy” rating in a report on Friday, May 19th. Finally, BidaskClub upgraded shares of Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $42.94.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded down 1.62% during mid-day trading on Thursday, reaching $45.04. 3,229,556 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $36.03 and its 200-day moving average is $37.04. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $52.67. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 13.82 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The firm had revenue of $952.40 million for the quarter, compared to the consensus estimate of $919.18 million. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Michael Kors Holdings Limited will post $3.70 EPS for the current year.

Michael Kors Holdings Limited declared that its board has approved a share repurchase program on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the lifestyle brand to reacquire up to 18.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently bought and sold shares of KORS. Martingale Asset Management L P boosted its position in Michael Kors Holdings Limited by 9.6% in the second quarter. Martingale Asset Management L P now owns 93,882 shares of the lifestyle brand’s stock worth $3,404,000 after buying an additional 8,255 shares during the period. Aberdeen Asset Management PLC UK boosted its position in Michael Kors Holdings Limited by 100.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 187,354 shares of the lifestyle brand’s stock worth $6,792,000 after buying an additional 94,025 shares during the period. South Dakota Investment Council boosted its position in Michael Kors Holdings Limited by 20.0% in the second quarter. South Dakota Investment Council now owns 94,958 shares of the lifestyle brand’s stock worth $3,442,000 after buying an additional 15,800 shares during the period. Systematic Financial Management LP boosted its position in Michael Kors Holdings Limited by 9,030.5% in the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after buying an additional 248,340 shares during the period. Finally, Commonwealth Bank of Australia boosted its position in Michael Kors Holdings Limited by 127.1% in the second quarter. Commonwealth Bank of Australia now owns 99,527 shares of the lifestyle brand’s stock worth $3,606,000 after buying an additional 55,700 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

Michael Kors Holdings Limited 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 Holdings Limited (NYSE:KORS)

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