Michael Kors (NYSE:KORS) was upgraded by equities research analysts at OTR Global to a “positive” rating in a report released on Tuesday, The Fly reports.
KORS has been the subject of a number of other research reports. Citigroup started coverage on Michael Kors in a report on Thursday, November 2nd. They issued a “positive” rating and a $62.00 price target for the company. Susquehanna Bancshares started coverage on Michael Kors in a report on Thursday, November 2nd. They issued a “positive” rating and a $62.00 price target for the company. Zacks Investment Research cut Michael Kors from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Goldman Sachs Group initiated coverage on Michael Kors in a research note on Tuesday, December 5th. They set a “buy” rating and a $70.00 target price for the company. Finally, ValuEngine upgraded Michael Kors from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.14.
Michael Kors (KORS) traded up $0.07 during midday trading on Tuesday, reaching $67.27. The company’s stock had a trading volume of 773,177 shares, compared to its average volume of 1,490,501. The stock has a market cap of $10,361.82, a PE ratio of 18.82, a PEG ratio of 2.29 and a beta of 0.12. Michael Kors has a 52-week low of $32.38 and a 52-week high of $68.35.
In other Michael Kors news, CEO John D. Idol sold 500 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value 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 Securities & Exchange Commission, which is available through this link. Also, SVP Pascale Meyran sold 6,835 shares of the stock in a transaction on Thursday, December 7th. The stock was 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 in the company, valued at $604,960.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,835 shares of company stock worth $964,403. 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 the business. APG Asset Management N.V. increased its position in Michael Kors by 0.5% in the third quarter. APG Asset Management N.V. now owns 4,454,174 shares of the lifestyle brand’s stock worth $213,132,000 after buying an additional 23,200 shares during the period. FMR LLC increased its position 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 buying an additional 1,107,385 shares during the period. Schroder Investment Management Group increased its position in Michael Kors by 0.8% in the third quarter. Schroder Investment Management Group now owns 2,429,162 shares of the lifestyle brand’s stock worth $115,895,000 after buying an additional 19,006 shares during the period. Dimensional Fund Advisors LP increased its position in Michael Kors by 29.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,210,424 shares of the lifestyle brand’s stock worth $57,918,000 after buying an additional 277,810 shares during the period. Finally, Bank of Montreal Can increased its position in Michael Kors by 568.5% in the fourth quarter. Bank of Montreal Can now owns 1,115,901 shares of the lifestyle brand’s stock worth $70,246,000 after buying an additional 948,966 shares during the period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
