Michael Kors Holdings Limited (NYSE:KORS) has been assigned an average rating of “Hold” from the twenty-eight brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, twenty have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.50.

Several equities analysts have weighed in on the company. Canaccord Genuity raised their target price on Michael Kors Holdings Limited from $33.00 to $43.00 and gave the company a “hold” rating in a report on Wednesday, August 9th. BMO Capital Markets restated a “market perform” rating and set a $46.00 target price (up from $35.00) on shares of Michael Kors Holdings Limited in a report on Wednesday, August 9th. Cowen and Company restated a “market perform” rating and set a $45.00 target price (up from $35.00) on shares of Michael Kors Holdings Limited in a report on Thursday, August 10th. Telsey Advisory Group raised their target price on Michael Kors Holdings Limited from $38.00 to $49.00 and gave the company a “market perform” rating in a report on Wednesday, August 9th. Finally, Nomura raised their target price on Michael Kors Holdings Limited from $41.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 9th.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its position in shares of Michael Kors Holdings Limited by 46.4% in the second quarter. Cubist Systematic Strategies LLC now owns 33,727 shares of the lifestyle brand’s stock worth $1,223,000 after buying an additional 10,695 shares in the last quarter. Sciencast Management LP acquired a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $264,000. BlueCrest Capital Management Ltd acquired a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $306,000. Maverick Capital Ltd. acquired a new position in shares of Michael Kors Holdings Limited during the second quarter worth approximately $1,111,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in shares of Michael Kors Holdings Limited by 6.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 867,453 shares of the lifestyle brand’s stock worth $31,443,000 after buying an additional 54,512 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

Shares of Michael Kors Holdings Limited (NYSE KORS) opened at 43.35 on Friday. The stock has a market cap of $6.57 billion, a P/E ratio of 13.30 and a beta of 0.10. The stock has a 50 day moving average price of $37.58 and a 200 day moving average price of $37.16. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last posted its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company 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 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Michael Kors Holdings Limited will post $3.71 EPS for the current fiscal year.

Michael Kors Holdings Limited declared that its Board of Directors has approved a share repurchase 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 usually an indication that the company’s leadership believes its shares are undervalued.

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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