Michael Kors Holdings Limited (NYSE:KORS) has earned an average recommendation of “Hold” from the twenty-eight research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, nineteen have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.45.

A number of research firms recently issued reports on KORS. BidaskClub downgraded shares of Michael Kors Holdings Limited from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and set a $36.00 target price on shares of Michael Kors Holdings Limited in a research report on Thursday, July 6th. Piper Jaffray Companies set a $34.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research report on Wednesday, May 31st. Canaccord Genuity set a $33.00 target price on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a research report on Monday, June 12th. Finally, Cowen and Company boosted their target price on shares of Michael Kors Holdings Limited from $33.00 to $35.00 and gave the company a “market perform” rating in a research report on Monday, June 12th.

Shares of Michael Kors Holdings Limited (NYSE:KORS) opened at 35.18 on Monday. The stock has a market cap of $5.48 billion, a P/E ratio of 10.69 and a beta of 0.10. The company has a 50 day moving average price of $34.87 and a 200 day moving average price of $37.53. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $53.29.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Michael Kors Holdings Limited had a net margin of 12.38% and a return on equity of 41.00%. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. On average, equities analysts anticipate that Michael Kors Holdings Limited will post $3.55 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in shares of 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 valued at $244,000 after buying an additional 190 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Michael Kors Holdings Limited by 62.7% in the fourth quarter. Teachers Advisors LLC now owns 282,380 shares of the lifestyle brand’s stock valued at $12,137,000 after buying an additional 108,793 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Michael Kors Holdings Limited during the fourth quarter valued at about $512,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Michael Kors Holdings Limited during the fourth quarter valued at about $229,000. Finally, Macquarie Group Ltd. increased its position in shares of Michael Kors Holdings Limited by 185.0% in the fourth quarter. Macquarie Group Ltd. now owns 11,400 shares of the lifestyle brand’s stock valued at $490,000 after buying an additional 7,400 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

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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.

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

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