Headlines about Michael Kors (NYSE:KORS) have trended somewhat positive on Wednesday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Michael Kors earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news headlines about the lifestyle brand an impact score of 46.5932263455464 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news headlines that may have impacted Accern’s analysis:
- Michael Kors Holdings Ltd (KORS) Shares Sold by Standard Life Aberdeen plc (americanbankingnews.com)
- Spark Investment Management LLC Takes $5.16 Million Position in Michael Kors Holdings Ltd (KORS) (americanbankingnews.com)
- State of Tennessee Treasury Department Sells 19,737 Shares of Michael Kors Holdings Ltd (KORS) (americanbankingnews.com)
- Michael Kors Holdings Ltd (KORS) Holdings Trimmed by State of Wisconsin Investment Board (americanbankingnews.com)
- Martingale Asset Management L P Sells 9,788 Shares of Michael Kors Holdings Ltd (KORS) (americanbankingnews.com)
Several research analysts recently issued reports on the stock. TheStreet raised shares of Michael Kors from a “c+” rating to a “b” rating in a research report on Monday, November 6th. Canaccord Genuity reissued a “buy” rating and issued a $67.00 price target (up previously from $58.00) on shares of Michael Kors in a research report on Friday, November 3rd. Jefferies Group reissued a “buy” rating on shares of Michael Kors in a research report on Friday, November 10th. ValuEngine raised shares of Michael Kors from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group assumed coverage on shares of Michael Kors in a research report on Tuesday, December 5th. They issued a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $62.32.
Michael Kors (NYSE:KORS) last released its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. Michael Kors’s revenue was up 6.4% compared to the same quarter last year. research analysts expect that Michael Kors will post 4.48 earnings per share for the current year.
In other news, Director Stephen F. Reitman sold 6,500 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $62.47, for a total transaction of $406,055.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Pascale Meyran sold 6,835 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the sale, the senior vice president now directly owns 10,081 shares in the company, valued at $604,960.81. The disclosure for this sale can be found here. Insiders have sold 167,335 shares of company stock worth $10,410,983 over the last three months. 6.00% of the stock is owned by insiders.
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About Michael Kors
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.
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