Michael Kors (NYSE:KORS) had its price target increased by investment analysts at Oppenheimer from $62.00 to $74.00 in a report released on Wednesday. The firm presently has an “outperform” rating on the lifestyle brand’s stock. Oppenheimer’s price objective would suggest a potential upside of 10.00% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. TheStreet raised Michael Kors from a “c+” rating to a “b” rating in a research report on Monday, November 6th. ValuEngine raised Michael Kors from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Canaccord Genuity raised Michael Kors from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $58.00 in a research report on Wednesday, September 27th. Zacks Investment Research raised Michael Kors from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, October 10th. Finally, Jefferies Group set a $60.00 price objective on Michael Kors and gave the stock a “buy” rating in a research report on Sunday, October 29th. One 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 issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.58.
Shares of Michael Kors (NYSE:KORS) traded up $0.31 during trading hours on Wednesday, hitting $67.27. The company’s stock had a trading volume of 1,690,000 shares, compared to its average volume of 1,800,000. Michael Kors has a 12 month low of $32.38 and a 12 month high of $68.31. The firm has a market capitalization of $10,230.00, a PE ratio of 18.74, a P/E/G ratio of 2.21 and a beta of 0.12.
In other Michael Kors news, Director M William Benedetto sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $53.60, for a total value of $107,200.00. Following the completion of the transaction, the director now owns 18,662 shares of the company’s stock, valued at approximately $1,000,283.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at approximately $604,960.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,835 shares of company stock valued at $964,403. Insiders own 6.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC grew its stake in shares of Michael Kors by 48.9% in the 2nd quarter. Teachers Advisors LLC now owns 428,118 shares of the lifestyle brand’s stock valued at $15,519,000 after purchasing an additional 140,576 shares during the period. Nationwide Fund Advisors grew its stake in shares of Michael Kors by 22.5% in the 2nd quarter. Nationwide Fund Advisors now owns 216,520 shares of the lifestyle brand’s stock valued at $7,849,000 after purchasing an additional 39,700 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Michael Kors by 10.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 487,261 shares of the lifestyle brand’s stock valued at $17,663,000 after purchasing an additional 47,403 shares during the period. FMR LLC grew its stake in shares of Michael Kors by 33.9% in the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after purchasing an additional 1,107,385 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Michael Kors by 4.0% in the 2nd quarter. California Public Employees Retirement System now owns 485,100 shares of the lifestyle brand’s stock valued at $17,585,000 after purchasing an additional 18,700 shares during the period. 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.
