Credit Suisse Group reissued their hold rating on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research report sent to investors on Sunday. The brokerage currently has a $43.00 price target on the lifestyle brand’s stock.

Several other research firms have also weighed in on KORS. Cowen and Company reaffirmed a market perform rating and issued a $45.00 price objective (up from $35.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, August 10th. MKM Partners reaffirmed a sell rating on shares of Michael Kors Holdings Limited in a research note on Wednesday, August 9th. Deutsche Bank AG set a $46.00 price objective on Michael Kors Holdings Limited and gave the company a hold rating in a research note on Thursday, August 10th. Piper Jaffray Companies set a $46.00 price objective on Michael Kors Holdings Limited and gave the company a hold rating in a research note on Tuesday, August 8th. Finally, BMO Capital Markets set a $35.00 price objective on Michael Kors Holdings Limited and gave the company a hold rating in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $42.54.

Michael Kors Holdings Limited (KORS) opened at 42.57 on Friday. The firm has a market cap of $6.45 billion and a PE ratio of 13.06. The firm has a 50-day moving average of $40.89 and a 200-day moving average of $37.49. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last issued its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The firm had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. During the same period last year, the company earned $0.88 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts anticipate that Michael Kors Holdings Limited will post $3.71 EPS for the current year.

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Michael Kors Holdings Limited declared that its Board of Directors has initiated a share buyback program on Wednesday, May 31st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the lifestyle brand to buy up to 18.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in KORS. Acadian Asset Management LLC boosted its position in Michael Kors Holdings Limited by 2,251.7% during the 1st quarter. Acadian Asset Management LLC now owns 28,291 shares of the lifestyle brand’s stock worth $1,079,000 after acquiring an additional 27,088 shares during the period. Janney Montgomery Scott LLC boosted its position in Michael Kors Holdings Limited by 39.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,470 shares of the lifestyle brand’s stock worth $361,000 after acquiring an additional 2,657 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Michael Kors Holdings Limited by 0.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,194 shares of the lifestyle brand’s stock worth $998,000 after acquiring an additional 125 shares during the period. American Century Companies Inc. acquired a new position in Michael Kors Holdings Limited during the 1st quarter worth $8,348,000. Finally, Comerica Bank boosted its position in Michael Kors Holdings Limited by 8.0% during the 1st quarter. Comerica Bank now owns 56,946 shares of the lifestyle brand’s stock worth $2,164,000 after acquiring an additional 4,224 shares during the period. Institutional investors own 83.39% of the company’s stock.

Michael Kors Holdings Limited 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.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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