Vetr cut shares of Michael Kors Holdings Ltd. (NYSE:KORS) from a strong-buy rating to a buy rating in a research note published on Monday. The brokerage currently has $53.75 price objective on the lifestyle brand’s stock.

KORS has been the subject of several other research reports. Jefferies Group reaffirmed a buy rating on shares of Michael Kors Holdings in a research note on Sunday, September 4th. Credit Suisse Group AG reaffirmed a hold rating and set a $55.00 target price on shares of Michael Kors Holdings in a research report on Tuesday, September 13th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $69.00 target price on shares of Michael Kors Holdings in a research report on Monday, August 8th. BMO Capital Markets set a $46.00 target price on Michael Kors Holdings and gave the stock a hold rating in a research report on Thursday, August 11th. Finally, Canaccord Genuity reaffirmed a hold rating and set a $45.00 target price on shares of Michael Kors Holdings in a research report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have given a buy rating to the stock. The company currently 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 48.14 on Monday. Michael Kors Holdings has a 12-month low of $34.83 and a 12-month high of $59.49. The company has a market capitalization of $7.90 billion, a P/E ratio of 10.97 and a beta of 0.84. The company’s 50 day moving average is $48.35 and its 200 day moving average is $48.57.

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

In other news, SVP Lee S. Sporn sold 4,700 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 22,653 shares of the company’s stock, valued at $1,132,650. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Lee S. Sporn sold 26,341 shares of the company’s stock in a transaction dated 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 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. Corporate insiders own 5.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. raised its position in Michael Kors Holdings by 58.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,413 shares of the lifestyle brand’s stock worth $119,000 after buying an additional 891 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Michael Kors Holdings during the third quarter worth about $125,000. Tower Research Capital LLC TRC increased its stake in shares of Michael Kors Holdings by 722.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,878 shares of the lifestyle brand’s stock worth $142,000 after buying an additional 2,528 shares during the period. Quantbot Technologies LP bought a new stake in shares of Michael Kors Holdings during the second quarter worth about $148,000. Finally, Toronto Dominion Bank increased its stake in shares of Michael Kors Holdings by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock worth $148,000 after buying an additional 1,596 shares during the period. 92.31% of the stock is owned by hedge funds and other institutional investors.

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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