Michael Kors (NYSE:KORS) had its price objective boosted by equities researchers at Barclays from $58.00 to $69.00 in a research note issued on Thursday. The brokerage currently has an “equal weight” rating on the lifestyle brand’s stock. Barclays’ price target points to a potential upside of 2.92% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Wolfe Research raised Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Thursday, December 14th. ValuEngine raised Michael Kors from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Canaccord Genuity reissued a “buy” rating and set a $67.00 target price (up previously from $58.00) on shares of Michael Kors in a report on Friday, November 3rd. Goldman Sachs Group started coverage on Michael Kors in a report on Tuesday, December 5th. They set a “buy” rating and a $70.00 target price for the company. Finally, Needham & Company LLC started coverage on Michael Kors in a report on Monday, December 18th. They set a “buy” rating and a $69.00 target price for the company. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.14.
Michael Kors (KORS) traded down $0.23 during mid-day trading on Thursday, reaching $67.04. 960,983 shares of the company’s stock were exchanged, compared to its average volume of 1,730,000. Michael Kors has a 1 year low of $32.38 and a 1 year high of $68.31. The company has a market capitalization of $10,200.00, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.25 and a beta of 0.12.
In other Michael Kors news, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $60.01, for a total transaction of $410,168.35. Following the completion of the transaction, the senior vice president now owns 10,081 shares of the company’s stock, valued at $604,960.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $55.93, for a total value of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. 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. 6.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC acquired a new position in Michael Kors during the fourth quarter worth about $126,000. Harvest Fund Management Co. Ltd acquired a new position in Michael Kors during the fourth quarter worth about $190,000. IFP Advisors Inc raised its stake in Michael Kors by 29.5% during the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock worth $216,000 after acquiring an additional 781 shares in the last quarter. CAPROCK Group Inc. acquired a new position in Michael Kors during the fourth quarter worth about $219,000. Finally, First Allied Advisory Services Inc. raised its stake in Michael Kors by 5.3% during the second quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock worth $251,000 after acquiring an additional 337 shares in the last quarter. 86.95% of the stock is owned by hedge funds and other institutional investors.
WARNING: This report was reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/01/25/barclays-increases-michael-kors-kors-price-target-to-69-00.html.
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.
