Michael Kors (KORS) Given a $58.00 Price Target at Robert W. Baird
Michael Kors (NYSE:KORS) has been given a $58.00 price objective by Robert W. Baird in a research report issued to clients and investors on Friday. The brokerage currently has a “hold” rating on the lifestyle brand’s stock. Robert W. Baird’s price objective suggests a potential downside of 8.52% from the stock’s current price.
A number of other equities analysts have also recently weighed in on KORS. Zacks Investment Research cut shares of Michael Kors from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. ValuEngine cut shares of Michael Kors from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Credit Suisse Group reissued a “hold” rating and issued a $43.00 price objective on shares of Michael Kors in a research report on Sunday, September 10th. Sanford C. Bernstein started coverage on shares of Michael Kors in a research report on Tuesday, September 12th. They issued an “underperform” rating and a $37.00 price objective for the company. Finally, Jefferies Group reissued a “buy” rating and issued a $60.00 price objective on shares of Michael Kors in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Michael Kors presently has a consensus rating of “Hold” and an average price target of $52.81.
Shares of Michael Kors (NYSE:KORS) traded down $0.63 during midday trading on Friday, reaching $63.40. The company had a trading volume of 1,020,000 shares, compared to its average volume of 2,499,019. Michael Kors has a 52-week low of $32.38 and a 52-week high of $64.25. The firm has a market cap of $9,640.00, a P/E ratio of 17.66, a P/E/G ratio of 2.14 and a beta of 0.13.
In other Michael Kors news, Director M William Benedetto sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $53.60, for a total value of $107,200.00. Following the transaction, the director now owns 18,662 shares of the company’s stock, valued at $1,000,283.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John D. Idol sold 500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total transaction of $27,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,688,046 shares in the company, valued at approximately $93,045,095.52. The disclosure for this sale can be found here. Insiders have sold 16,835 shares of company stock worth $964,403 in the last ninety days. Corporate insiders own 6.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of KORS. BlackRock Inc. lifted its holdings in Michael Kors by 9.3% in the second quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock worth $554,176,000 after acquiring an additional 1,301,796 shares during the last quarter. FMR LLC lifted its holdings in Michael Kors by 33.9% in the second quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock worth $158,708,000 after acquiring an additional 1,107,385 shares during the last quarter. Ardevora Asset Management LLP bought a new position in Michael Kors in the third quarter worth about $37,089,000. PDT Partners LLC lifted its holdings in Michael Kors by 590.2% in the second quarter. PDT Partners LLC now owns 639,200 shares of the lifestyle brand’s stock worth $23,171,000 after acquiring an additional 546,588 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Michael Kors by 24.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,572,603 shares of the lifestyle brand’s stock worth $93,256,000 after acquiring an additional 506,071 shares during the last quarter. 86.32% of the stock is currently owned by hedge funds and other institutional investors.
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Michael Kors 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.
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