Michael Kors Holdings Limited (NYSE:KORS)‘s stock had its “hold” rating reiterated by research analysts at Credit Suisse Group in a report released on Sunday. They presently have a $43.00 price target on the lifestyle brand’s stock. Credit Suisse Group’s target price points to a potential upside of 2.02% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. ValuEngine cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Deutsche Bank AG set a $46.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Thursday, August 10th. MKM Partners reaffirmed a “sell” rating on shares of Michael Kors Holdings Limited in a research report on Wednesday, August 9th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $45.00 price objective (up from $35.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.77.

Shares of Michael Kors Holdings Limited (NYSE:KORS) traded down 0.52% during trading on Friday, reaching $42.15. 1,267,446 shares of the company’s stock traded hands. The company has a 50 day moving average of $40.67 and a 200-day moving average of $37.46. Michael Kors Holdings Limited has a 1-year low of $32.38 and a 1-year high of $52.67. The company has a market capitalization of $6.39 billion and a price-to-earnings ratio of 12.93.

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

Michael Kors Holdings Limited declared that its board has approved a share buyback program on Wednesday, May 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in KORS. Meag Munich Ergo Kapitalanlagegesellschaft acquired a new stake in shares of Michael Kors Holdings Limited during the 3rd quarter valued at $5,394,000. Janus Capital Management boosted its holdings in shares of Michael Kors Holdings Limited by 10.0% during the 3rd quarter. Janus Capital Management now owns 103,504 shares of the lifestyle brand’s stock valued at $4,372,000 after acquiring an additional 9,369 shares in the last quarter. Wilsey Asset Management boosted its holdings in shares of Michael Kors Holdings Limited by 4.1% during the 4th quarter. Wilsey Asset Management now owns 152,141 shares of the lifestyle brand’s stock valued at $6,094,000 after acquiring an additional 5,976 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Michael Kors Holdings Limited by 115.3% during the 4th quarter. Nordea Investment Management AB now owns 253,299 shares of the lifestyle brand’s stock valued at $10,147,000 after acquiring an additional 135,651 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Michael Kors Holdings Limited during the 4th quarter valued at $5,078,000. 83.39% of the stock is currently owned by institutional investors.

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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