Michael Kors Holdings Ltd. (NYSE:KORS) Receives $52.83 Average Target Price from Brokerages
Michael Kors Holdings Ltd. (NYSE:KORS) has been given a consensus rating of “Hold” by the thirty-two ratings firms that are currently covering the stock. One analyst has rated the stock with a sell recommendation, twenty-two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $52.65.
A number of brokerages have commented on KORS. Jefferies Group restated a “buy” rating on shares of Michael Kors Holdings in a research report on Sunday, September 4th. JPMorgan Chase & Co. upped their price objective on Michael Kors Holdings from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. BMO Capital Markets set a $46.00 price objective on Michael Kors Holdings and gave the stock a “hold” rating in a research note on Thursday, August 11th. Zacks Investment Research raised Michael Kors Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Wedbush dropped their price objective on Michael Kors Holdings from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 11th.
Michael Kors Holdings (NYSE:KORS) opened at 47.01 on Monday. The firm has a 50-day moving average price of $48.83 and a 200-day moving average price of $49.82. The stock has a market capitalization of $7.93 billion, a PE ratio of 10.61 and a beta of 0.89. Michael Kors Holdings has a 52 week low of $34.83 and a 52 week high of $59.49.
Michael Kors Holdings (NYSE:KORS) last issued its quarterly earnings results on Wednesday, August 10th. The lifestyle brand reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.14. The business earned $987.90 million during the quarter, compared to analysts’ expectations of $954.13 million. Michael Kors Holdings had a return on equity of 43.05% and a net margin of 17.33%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share. Equities research analysts predict that Michael Kors Holdings will post $4.57 EPS for the current fiscal year.
In other news, 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 value 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 approximately $2,036,164.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lee S. Sporn sold 4,700 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was 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 of the company’s stock, valued at approximately $1,132,650. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Michael Kors Holdings during the third quarter worth $1,205,000. Macquarie Group Ltd. boosted its stake in Michael Kors Holdings by 142.2% in the second quarter. Macquarie Group Ltd. now owns 4,360 shares of the lifestyle brand’s stock worth $216,000 after buying an additional 2,560 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Michael Kors Holdings during the second quarter worth $353,000. Kentucky Retirement Systems acquired a new stake in Michael Kors Holdings during the second quarter worth $743,000. Finally, Mason Street Advisors LLC acquired a new stake in Michael Kors Holdings during the second quarter worth $1,176,000. 93.04% of the stock is owned by hedge funds and other institutional investors.
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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