Equities research analysts at Credit Suisse Group initiated coverage on shares of Michael Kors (NYSE:KORS) in a report released on Monday, The Fly reports. The brokerage set an “outperform” rating on the lifestyle brand’s stock.
Other analysts have also issued research reports about the company. Robert W. Baird reissued a “hold” rating on shares of Michael Kors in a research note on Monday, February 5th. Cowen set a $71.00 price objective on Michael Kors and gave the company a “hold” rating in a research note on Wednesday, February 7th. Barclays set a $75.00 price objective on Michael Kors and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Bank of America increased their price objective on Michael Kors from $58.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $72.00 price objective on shares of Michael Kors in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $62.32.
Michael Kors (KORS) traded up $0.01 during mid-day trading on Monday, hitting $61.41. 1,531,954 shares of the company traded hands, compared to its average volume of 2,355,403. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.00. The company has a market capitalization of $9,330.00, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.96 and a beta of 0.13. Michael Kors has a one year low of $32.38 and a one year high of $69.95.
In other Michael Kors news, Director M William Benedetto sold 4,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.94, for a total value of $255,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael David Kors sold 246,590 shares of the stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $61.30, for a total value of $15,115,967.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 407,090 shares of company stock valued at $25,116,782. 6.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of KORS. USA Mutuals Advisors Inc. bought a new position in Michael Kors in the fourth quarter worth $100,000. Cerebellum GP LLC bought a new position in shares of Michael Kors during the fourth quarter valued at $126,000. Harvest Fund Management Co. Ltd bought a new position in shares of Michael Kors during the fourth quarter valued at $190,000. IFP Advisors Inc increased its holdings in shares of Michael Kors by 29.5% during the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after acquiring an additional 781 shares in the last quarter. Finally, CAPROCK Group Inc. bought a new position in shares of Michael Kors during the fourth quarter valued at $219,000. Institutional investors and hedge funds own 85.48% 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.
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