Michael Kors Holdings Ltd (KORS) Given Average Recommendation of “Hold” by Brokerages

Shares of Michael Kors Holdings Ltd (NYSE:KORS) have been given an average recommendation of “Hold” by the thirty-three ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $68.63.

A number of research firms have weighed in on KORS. Needham & Company LLC set a $75.00 target price on Michael Kors and gave the stock a “buy” rating in a report on Thursday, May 31st. Deutsche Bank set a $83.00 target price on Michael Kors and gave the stock a “buy” rating in a report on Friday, June 1st. Barclays set a $73.00 price objective on Michael Kors and gave the company a “hold” rating in a report on Thursday, May 31st. Canaccord Genuity set a $84.00 price objective on Michael Kors and gave the company a “buy” rating in a report on Tuesday, May 29th. Finally, Robert W. Baird set a $74.00 price objective on Michael Kors and gave the company a “hold” rating in a report on Tuesday, May 29th.

In other Michael Kors news, CEO John D. Idol sold 150,000 shares of the stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $66.23, for a total transaction of $9,934,500.00. Following the sale, the chief executive officer now directly owns 1,774,643 shares of the company’s stock, valued at approximately $117,534,605.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cathy Marie Robinson sold 6,097 shares of the stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $63.58, for a total value of $387,647.26. Following the sale, the senior vice president now directly owns 24,936 shares in the company, valued at $1,585,430.88. The disclosure for this sale can be found here. Insiders have sold a total of 468,197 shares of company stock worth $30,777,254 over the last ninety days. 6.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in Michael Kors by 0.6% during the 1st quarter. BlackRock Inc. now owns 10,662,124 shares of the lifestyle brand’s stock worth $661,908,000 after purchasing an additional 67,569 shares during the period. Northern Trust Corp boosted its stake in shares of Michael Kors by 4.2% during the 1st quarter. Northern Trust Corp now owns 2,035,745 shares of the lifestyle brand’s stock worth $126,379,000 after acquiring an additional 81,153 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Michael Kors by 0.9% during the 1st quarter. American Century Companies Inc. now owns 1,354,518 shares of the lifestyle brand’s stock worth $84,088,000 after acquiring an additional 12,012 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Michael Kors by 51.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,350,172 shares of the lifestyle brand’s stock worth $83,820,000 after acquiring an additional 456,435 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Michael Kors by 40.3% during the 4th quarter. Two Sigma Advisers LP now owns 1,224,876 shares of the lifestyle brand’s stock worth $77,106,000 after acquiring an additional 352,016 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

Michael Kors opened at $66.82 on Thursday, Marketbeat reports. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.33. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 2.17 and a beta of 0.08. Michael Kors has a twelve month low of $32.81 and a twelve month high of $70.00.

Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, May 30th. The lifestyle brand reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Michael Kors had a return on equity of 37.39% and a net margin of 12.54%. Michael Kors’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. analysts anticipate that Michael Kors will post 4.72 earnings per share for the current fiscal year.

Michael Kors Company Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's apparel and accessories, and men's apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women's apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.

Analyst Recommendations for Michael Kors (NYSE:KORS)

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