Barclays PLC began coverage on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $44.00 price objective on the lifestyle brand’s stock.

A number of other analysts have also weighed in on KORS. Canaccord Genuity set a $38.00 price target on shares of Michael Kors Holdings Limited and gave the company a hold rating in a report on Friday, May 26th. BMO Capital Markets set a $35.00 price target on shares of Michael Kors Holdings Limited and gave the company a hold rating in a report on Thursday, July 6th. ValuEngine lowered shares of Michael Kors Holdings Limited from a buy rating to a hold rating in a report on Friday, September 1st. Jefferies Group LLC set a $60.00 price target on shares of Michael Kors Holdings Limited and gave the company a buy rating in a report on Tuesday, July 4th. Finally, BidaskClub raised shares of Michael Kors Holdings Limited from a strong sell rating to a sell rating in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $43.94.

Michael Kors Holdings Limited (KORS) opened at 45.92 on Tuesday. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The company has a 50-day moving average price of $42.35 and a 200-day moving average price of $37.81. The company has a market capitalization of $6.96 billion and a price-to-earnings ratio of 14.09.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The company had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. Equities research analysts anticipate that Michael Kors Holdings Limited will post $3.70 EPS for the current year.

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Michael Kors Holdings Limited announced that its board has approved a stock repurchase plan on Wednesday, May 31st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the lifestyle brand to purchase up to 18.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in Michael Kors Holdings Limited in the 2nd quarter valued at $114,000. NINE MASTS CAPITAL Ltd bought a new stake in Michael Kors Holdings Limited in the 1st quarter valued at $149,000. Ameritas Investment Partners Inc. bought a new stake in Michael Kors Holdings Limited in the 1st quarter valued at $154,000. Sandy Spring Bank lifted its position in Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after acquiring an additional 40 shares in the last quarter. Finally, TrimTabs Asset Management LLC lifted its position in Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after acquiring an additional 2,325 shares in the last quarter. 83.39% of the stock is currently owned by institutional investors and hedge funds.

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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