Michael Kors Holdings Ltd. (NYSE:KORS) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday. They presently have a $52.00 target price on the lifestyle brand’s stock, down from their previous target price of $69.00. Morgan Stanley’s price target would indicate a potential upside of 10.87% from the stock’s previous close.

KORS has been the subject of a number of other reports. Goldman Sachs Group Inc. raised their target price on Michael Kors Holdings from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $69.00 target price on shares of Michael Kors Holdings in a research note on Monday, August 8th. Zacks Investment Research downgraded Michael Kors Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. BMO Capital Markets set a $46.00 target price on Michael Kors Holdings and gave the stock a “hold” rating in a research note on Thursday, November 10th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Michael Kors Holdings in a research note on Friday, November 11th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.08.

Analyst Recommendations for Michael Kors Holdings (NYSE:KORS)

Shares of Michael Kors Holdings (NYSE:KORS) opened at 46.90 on Monday. The company has a 50-day moving average of $48.43 and a 200-day moving average of $48.83. Michael Kors Holdings has a 1-year low of $34.83 and a 1-year high of $59.49. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 10.69 and a beta of 0.84.

Michael Kors Holdings (NYSE:KORS) last issued its earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. Michael Kors Holdings had a return on equity of 42.50% and a net margin of 16.94%. The business earned $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $1.07 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts expect that Michael Kors Holdings will post $4.41 EPS for the current fiscal year.

In related news, SVP Lee S. Sporn sold 4,700 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 22,653 shares of the company’s stock, valued at $1,132,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lee S. Sporn sold 26,341 shares of the company’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 transaction, the senior vice president now directly owns 40,707 shares in the company, valued at approximately $2,036,164.14. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 worth $263,000 after buying an additional 20 shares in the last quarter. Commonwealth Equity Services Inc increased its stake in 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 worth $852,000 after buying an additional 76 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in 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 worth $996,000 after buying an additional 100 shares during the last quarter. Dearborn Partners LLC increased its stake in Michael Kors Holdings by 2.4% in the second quarter. Dearborn Partners LLC now owns 6,146 shares of the lifestyle brand’s stock worth $304,000 after buying an additional 146 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in 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 worth $748,000 after buying an additional 149 shares during the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Michael Kors Holdings 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.

5 Day Chart for NYSE:KORS

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