Michael Kors Holdings Ltd (KORS) Given Consensus Rating of “Hold” by Analysts

Shares of Michael Kors Holdings Ltd (NYSE:KORS) have been given a consensus rating of “Hold” by the thirty-five analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $52.84.

A number of equities research analysts have recently issued reports on KORS shares. Oppenheimer set a $55.00 price target on shares of Michael Kors and gave the company a “buy” rating in a report on Wednesday, October 11th. Robert W. Baird set a $58.00 price target on shares of Michael Kors and gave the company a “hold” rating in a report on Friday, December 22nd. Piper Jaffray Companies reiterated a “hold” rating and set a $57.00 price target on shares of Michael Kors in a report on Monday, November 6th. Bank of America reiterated a “neutral” rating and set a $58.00 price target on shares of Michael Kors in a report on Tuesday, November 7th. Finally, ValuEngine upgraded shares of Michael Kors from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th.

Shares of Michael Kors (KORS) opened at $65.24 on Monday. Michael Kors has a 12 month low of $32.38 and a 12 month high of $65.25. The stock has a market cap of $9,920.83, a price-to-earnings ratio of 18.17, a PEG ratio of 2.20 and a beta of 0.12.

Michael Kors (NYSE:KORS) last announced its quarterly earnings data on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. analysts predict that Michael Kors will post 3.96 earnings per share for the current year.

In related news, CEO John D. Idol sold 500 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $55.12, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M William Benedetto sold 2,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the completion of the transaction, the director now owns 18,662 shares of the company’s stock, valued at $1,000,283.20. The disclosure for this sale can be found here. Insiders sold a total of 16,835 shares of company stock valued at $964,403 over the last 90 days. Company insiders own 6.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Balasa Dinverno & Foltz LLC increased its stake in shares of Michael Kors by 19.3% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock worth $415,000 after acquiring an additional 1,404 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Michael Kors in the 3rd quarter worth about $4,255,000. BT Investment Management Ltd bought a new position in shares of Michael Kors in the 2nd quarter worth about $9,557,000. Victory Capital Management Inc. increased its stake in shares of Michael Kors by 1,510.2% in the 3rd quarter. Victory Capital Management Inc. now owns 43,233 shares of the lifestyle brand’s stock worth $2,069,000 after acquiring an additional 40,548 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Michael Kors by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 500,027 shares of the lifestyle brand’s stock worth $23,926,000 after acquiring an additional 14,927 shares in the last quarter. Institutional investors own 86.44% of the company’s stock.

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About Michael Kors

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 (NYSE:KORS)

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