Michael Kors Holdings Ltd. (NYSE:KORS) announced its quarterly earnings data on Thursday. The lifestyle brand reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.07. Michael Kors Holdings had a return on equity of 43.05% and a net margin of 17.33%. The business earned $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $1.07 EPS. Michael Kors Holdings’s revenue for the quarter was down 3.7% on a year-over-year basis. Michael Kors Holdings updated its Q3 guidance to $1.61-1.65 EPS and its FY17 guidance to $4.37-4.43 EPS.

Shares of Michael Kors Holdings (NYSE:KORS) opened at 51.76 on Friday. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 11.68 and a beta of 0.84. The company’s 50-day moving average price is $48.44 and its 200-day moving average price is $48.85. Michael Kors Holdings has a one year low of $34.83 and a one year high of $59.49.

Earnings History for Michael Kors Holdings (NYSE:KORS)

In other Michael Kors Holdings news, SVP Lee S. Sporn sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total transaction of $235,000.00. Following the completion of the transaction, the senior vice president now owns 22,653 shares of the company’s stock, valued at approximately $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 company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $50.02, for a total value of $1,317,576.82. Following the transaction, the senior vice president now directly owns 40,707 shares of the company’s stock, valued at approximately $2,036,164.14. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KORS. Municipal Employees Retirement System of Michigan raised its position in shares of Michael Kors Holdings by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,620 shares of the lifestyle brand’s stock valued at $263,000 after buying an additional 20 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of Michael Kors Holdings by 0.4% in the second quarter. Commonwealth Equity Services Inc now owns 17,227 shares of the lifestyle brand’s stock valued at $852,000 after buying an additional 76 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Michael Kors Holdings by 0.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 21,290 shares of the lifestyle brand’s stock valued at $996,000 after buying an additional 100 shares in the last quarter. Dearborn Partners LLC raised its position in shares of Michael Kors Holdings by 2.4% in the second quarter. Dearborn Partners LLC now owns 6,146 shares of the lifestyle brand’s stock valued at $304,000 after buying an additional 146 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Michael Kors Holdings by 1.0% in the second quarter. CIBC Asset Management Inc now owns 15,113 shares of the lifestyle brand’s stock valued at $748,000 after buying an additional 149 shares in the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on KORS shares. Goldman Sachs Group Inc. increased their target price on Michael Kors Holdings from $50.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $69.00 target price on shares of Michael Kors Holdings in a research report on Monday, August 8th. Zacks Investment Research downgraded Michael Kors Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. BMO Capital Markets set a $46.00 target price on Michael Kors Holdings and gave the company a “hold” rating in a research report on Thursday, August 11th. Finally, Wedbush dropped their target price on Michael Kors Holdings from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.83.

About Michael Kors Holdings

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.

5 Day Chart for NYSE:KORS

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