Michael Kors Holdings Ltd. (KORS) Given Equal Weight Rating at Morgan Stanley
Several other research firms have also commented on KORS. Jefferies Group reaffirmed a buy rating and issued a $75.00 price target on shares of Michael Kors Holdings in a report on Friday, November 11th. JPMorgan Chase & Co. reaffirmed a hold rating and issued a $44.00 price target on shares of Michael Kors Holdings in a report on Friday, November 11th. BMO Capital Markets set a $46.00 price target on shares of Michael Kors Holdings and gave the company a hold rating in a report on Thursday, November 10th. Vetr lowered shares of Michael Kors Holdings from a strong-buy rating to a buy rating and set a $56.16 price target on the stock. in a report on Monday, September 26th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $69.00 target price on shares of Michael Kors Holdings in a research note on Monday, August 8th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $53.13.
Shares of Michael Kors Holdings (NYSE:KORS) opened at 47.71 on Tuesday. Michael Kors Holdings has a one year low of $34.83 and a one year high of $59.49. The stock has a 50 day moving average price of $48.55 and a 200 day moving average price of $48.60. The company has a market capitalization of $7.83 billion, a PE ratio of 10.88 and a beta of 0.84.
Michael Kors Holdings (NYSE:KORS) last released its earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.07. Michael Kors Holdings had a return on equity of 42.50% and a net margin of 16.94%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $1.07 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts predict that Michael Kors Holdings will post $4.41 earnings per share for the current year.
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In other news, SVP Lee S. Sporn sold 26,341 shares of Michael Kors Holdings stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $50.02, for a total transaction of $1,317,576.82. Following the completion of the sale, the senior vice president now directly owns 40,707 shares of the company’s stock, valued at approximately $2,036,164.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. First Heartland Consultants Inc. purchased a new stake in Michael Kors Holdings during the third quarter valued at about $201,000. Accident Compensation Corp boosted its stake in Michael Kors Holdings by 9.1% in the third quarter. Accident Compensation Corp now owns 98,508 shares of the lifestyle brand’s stock valued at $4,609,000 after buying an additional 8,200 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Michael Kors Holdings during the third quarter valued at about $125,000. ETRADE Capital Management LLC boosted its stake in Michael Kors Holdings by 87.6% in the third quarter. ETRADE Capital Management LLC now owns 39,481 shares of the lifestyle brand’s stock valued at $1,847,000 after buying an additional 18,440 shares during the period. Finally, Cognios Capital LLC boosted its stake in Michael Kors Holdings by 10.9% in the third quarter. Cognios Capital LLC now owns 27,226 shares of the lifestyle brand’s stock valued at $1,272,000 after buying an additional 2,686 shares during the period. 86.16% of the stock is owned by institutional investors and hedge funds.
Michael Kors Holdings 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.
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