Wells Fargo & Company reissued their market perform rating on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research note published on Thursday, June 1st. They currently have a $35.00 target price on the lifestyle brand’s stock, down from their prior target price of $39.00.

A number of other analysts have also recently commented on KORS. Evercore ISI cut Michael Kors Holdings Limited from a buy rating to a hold rating in a research report on Wednesday, February 1st. Canaccord Genuity reiterated a buy rating and set a $45.00 price objective on shares of Michael Kors Holdings Limited in a research report on Tuesday, February 7th. Piper Jaffray Companies set a $48.00 price objective on Michael Kors Holdings Limited and gave the stock a hold rating in a research report on Tuesday, February 7th. Deutsche Bank AG reiterated a buy rating and set a $50.00 price objective (down previously from $56.00) on shares of Michael Kors Holdings Limited in a research report on Tuesday, February 7th. Finally, Mizuho decreased their price target on Michael Kors Holdings Limited from $50.00 to $38.00 and set a neutral rating on the stock in a research note on Tuesday, February 7th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $40.63.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded down 0.23% during mid-day trading on Thursday, reaching $34.60. 3,236,660 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $36.14 and its 200-day moving average price is $39.45. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $53.29. The company has a market capitalization of $5.39 billion, a PE ratio of 10.52 and a beta of 0.15.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings data on Wednesday, May 31st. The lifestyle brand reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities analysts expect that Michael Kors Holdings Limited will post $3.56 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its stake in Michael Kors Holdings Limited by 25.9% in the fourth quarter. Comerica Bank now owns 52,722 shares of the lifestyle brand’s stock worth $2,235,000 after buying an additional 10,836 shares in the last quarter. Twin Capital Management Inc. boosted its stake in Michael Kors Holdings Limited by 0.8% in the first quarter. Twin Capital Management Inc. now owns 42,320 shares of the lifestyle brand’s stock worth $1,613,000 after buying an additional 320 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Michael Kors Holdings Limited by 3.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand’s stock worth $244,000 after buying an additional 190 shares in the last quarter. DnB Asset Management AS boosted its stake in Michael Kors Holdings Limited by 41.6% in the first quarter. DnB Asset Management AS now owns 14,973 shares of the lifestyle brand’s stock worth $571,000 after buying an additional 4,400 shares in the last quarter. Finally, Oxford Asset Management acquired a new stake in Michael Kors Holdings Limited during the first quarter worth $2,834,000. 85.15% of the stock is owned by hedge funds and other institutional investors.

About Michael Kors Holdings Limited

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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