Michael Kors (NYSE:KORS) has been given a $62.00 target price by analysts at Robert W. Baird in a report released on Sunday. The firm currently has a “hold” rating on the lifestyle brand’s stock. Robert W. Baird’s price objective suggests a potential downside of 5.86% from the stock’s previous close.
A number of other research analysts have also recently weighed in on the company. ValuEngine upgraded Michael Kors from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Needham & Company LLC began coverage on Michael Kors in a research note on Monday, December 18th. They set a “buy” rating and a $69.00 price objective on the stock. Wolfe Research upgraded Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research note on Thursday, December 14th. Goldman Sachs Group began coverage on Michael Kors in a research note on Tuesday, December 5th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Cowen restated a “hold” rating on shares of Michael Kors in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $52.95.
Shares of Michael Kors (NYSE KORS) traded up $0.85 during trading on Friday, reaching $65.86. The company had a trading volume of 1,654,200 shares, compared to its average volume of 1,648,669. Michael Kors has a 52-week low of $32.38 and a 52-week high of $65.96. The firm has a market capitalization of $9,970.00, a PE ratio of 18.35, a P/E/G ratio of 2.22 and a beta of 0.12.
Michael Kors (NYSE:KORS) last issued its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities research analysts anticipate that Michael Kors will post 3.96 EPS for the current fiscal year.
In other news, CEO John D. Idol sold 500 shares of Michael Kors 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 sale, the chief executive officer now directly owns 1,688,046 shares of the company’s stock, valued at $93,045,095.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the completion of the sale, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at $604,960.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,835 shares of company stock worth $964,403. Corporate insiders own 6.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. CAPROCK Group Inc. bought a new stake in Michael Kors in the fourth quarter valued at about $219,000. First Allied Advisory Services Inc. increased its holdings in Michael Kors by 5.3% in the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock valued at $251,000 after buying an additional 337 shares during the last quarter. Hikari Power Ltd bought a new stake in Michael Kors in the third quarter valued at about $252,000. Sei Investments Co. increased its holdings in Michael Kors by 65.1% in the third quarter. Sei Investments Co. now owns 5,466 shares of the lifestyle brand’s stock valued at $262,000 after buying an additional 2,156 shares during the last quarter. Finally, Sciencast Management LP bought a new stake in Michael Kors in the second quarter valued at about $264,000. 86.95% of the stock is owned by hedge funds and other institutional investors.
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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.