Investment analysts at Needham & Company LLC started coverage on shares of Michael Kors (NYSE:KORS) in a report released on Monday, The Fly reports. The brokerage set a “buy” rating on the lifestyle brand’s stock.
Several other equities analysts have also commented on KORS. Robert W. Baird set a $46.00 price target on Michael Kors and gave the company a “hold” rating in a research note on Sunday, October 1st. Canaccord Genuity raised Michael Kors from a “hold” rating to a “buy” rating and upped their price target for the company from $43.00 to $58.00 in a research note on Wednesday, September 27th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $49.00 price target on shares of Michael Kors in a research note on Tuesday, September 26th. Goldman Sachs Group began coverage on Michael Kors in a research note on Tuesday, December 5th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, TheStreet raised Michael Kors from a “c+” rating to a “b” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $51.84.
Michael Kors (NYSE:KORS) traded up $1.54 during midday trading on Monday, reaching $63.19. The company’s stock had a trading volume of 2,406,752 shares, compared to its average volume of 2,516,674. The firm has a market capitalization of $9,374.93, a price-to-earnings ratio of 13.70, a P/E/G ratio of 2.08 and a beta of 0.12. Michael Kors has a one year low of $32.38 and a one year high of $63.20.
In other Michael Kors news, CEO John D. Idol sold 500 shares of the company’s 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 owns 1,688,046 shares in the company, valued at approximately $93,045,095.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the company’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 sale, the senior vice president now owns 10,647 shares in the company, valued at approximately $595,486.71. The disclosure for this sale can be found here. Insiders sold a total of 16,835 shares of company stock worth $964,403 in the last quarter. Company insiders own 6.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of KORS. Pacer Advisors Inc. purchased a new stake in Michael Kors during the 2nd quarter worth about $114,000. Sandy Spring Bank increased its holdings in Michael Kors by 0.9% during the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after purchasing an additional 40 shares during the period. TrimTabs Asset Management LLC increased its holdings in Michael Kors by 105.1% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after purchasing an additional 2,325 shares during the period. Penserra Capital Management LLC purchased a new stake in Michael Kors during the 2nd quarter worth about $188,000. Finally, First Allied Advisory Services Inc. increased its holdings in Michael Kors by 5.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 6,752 shares of the lifestyle brand’s stock worth $251,000 after purchasing an additional 337 shares during the period. Institutional investors own 86.59% of the company’s stock.
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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.
