Michael Kors Holdings Limited (NYSE:KORS) has been assigned a $34.00 target price by equities researchers at Buckingham Research in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the lifestyle brand’s stock. Buckingham Research’s target price points to a potential downside of 8.68% from the stock’s current price.

A number of other research firms also recently commented on KORS. Deutsche Bank AG decreased their target price on Michael Kors Holdings Limited from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, April 25th. Zacks Investment Research downgraded Michael Kors Holdings Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Jefferies Group LLC set a $65.00 target price on Michael Kors Holdings Limited and gave the stock a “buy” rating in a research report on Monday, April 10th. Credit Suisse Group reiterated a “neutral” rating and issued a $39.00 target price (down from $42.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, May 24th. Finally, BMO Capital Markets set a $38.00 target price on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Tuesday, April 18th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.42.

Shares of Michael Kors Holdings Limited (KORS) traded up 21.89% during trading on Tuesday, hitting $45.38. The stock had a trading volume of 9,923,807 shares. The company has a market cap of $7.06 billion, a PE ratio of 13.79 and a beta of 0.10. The stock has a 50 day moving average of $35.18 and a 200 day moving average of $37.09. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last posted its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The company had revenue of $952.40 million for the quarter, compared to the consensus estimate of $919.18 million. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Equities analysts forecast that Michael Kors Holdings Limited will post $3.54 EPS for the current fiscal year.

Michael Kors Holdings Limited declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 31st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the lifestyle brand to buy up to 18.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of hedge funds and other institutional investors have recently made changes to their positions in KORS. Thrivent Financial for Lutherans boosted its position in shares of Michael Kors Holdings Limited by 3.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand’s stock valued at $244,000 after buying an additional 190 shares during the period. Teachers Advisors LLC boosted its position in shares of Michael Kors Holdings Limited by 62.7% in the fourth quarter. Teachers Advisors LLC now owns 282,380 shares of the lifestyle brand’s stock valued at $12,137,000 after buying an additional 108,793 shares during the period. Kentucky Retirement Systems purchased a new position in shares of Michael Kors Holdings Limited during the fourth quarter valued at about $512,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Michael Kors Holdings Limited during the fourth quarter valued at about $229,000. Finally, Macquarie Group Ltd. boosted its position in shares of Michael Kors Holdings Limited by 185.0% in the fourth quarter. Macquarie Group Ltd. now owns 11,400 shares of the lifestyle brand’s stock valued at $490,000 after buying an additional 7,400 shares during the period. 84.89% of the stock is currently owned by institutional investors.

About Michael Kors Holdings Limited

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.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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