Michael Kors Holdings Ltd (NYSE:KORS) shares hit a new 52-week low during trading on Thursday . The company traded as low as $46.40 and last traded at $46.50, with a volume of 1624484 shares traded. The stock had previously closed at $48.05.

A number of research analysts recently commented on KORS shares. Canaccord Genuity set a $90.00 price target on Michael Kors and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Deutsche Bank decreased their price target on Michael Kors from $84.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Piper Jaffray Companies upgraded Michael Kors from a “neutral” rating to an “overweight” rating and set a $71.00 price target on the stock in a research report on Friday, November 2nd. Zacks Investment Research cut Michael Kors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Michael Kors in a research report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $72.79.

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 0.71. The stock has a market cap of $7.17 billion, a PE ratio of 10.45, a PEG ratio of 1.49 and a beta of 0.39.

Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.18. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Michael Kors Holdings Ltd will post 5.02 earnings per share for the current fiscal year.

In other news, insider Michael David Kors sold 179,920 shares of Michael Kors stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $67.74, for a total transaction of $12,187,780.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $72.99, for a total value of $10,948,500.00. The disclosure for this sale can be found here. Insiders have sold 516,516 shares of company stock worth $36,817,667 over the last three months. Insiders own 6.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in KORS. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Michael Kors by 5.1% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 16,121 shares of the lifestyle brand’s stock worth $1,074,000 after acquiring an additional 780 shares during the period. LMR Partners LLP increased its holdings in Michael Kors by 19.5% in the second quarter. LMR Partners LLP now owns 5,072 shares of the lifestyle brand’s stock worth $338,000 after purchasing an additional 827 shares in the last quarter. World Asset Management Inc increased its holdings in Michael Kors by 9.2% in the second quarter. World Asset Management Inc now owns 10,631 shares of the lifestyle brand’s stock worth $708,000 after purchasing an additional 896 shares in the last quarter. Fulton Bank N.A. increased its holdings in Michael Kors by 7.9% in the third quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock worth $863,000 after purchasing an additional 918 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Michael Kors by 2.2% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,154 shares of the lifestyle brand’s stock worth $2,874,000 after purchasing an additional 934 shares in the last quarter. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

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Michael Kors Company Profile (NYSE:KORS)

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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