Michael Kors (NYSE:KORS) had its price objective raised by Nomura from $69.00 to $80.00 in a report released on Thursday. Nomura currently has a buy rating on the lifestyle brand’s stock.

Other equities research analysts have also issued reports about the stock. Robert W. Baird restated a hold rating on shares of Michael Kors in a report on Monday. Cowen set a $71.00 target price on shares of Michael Kors and gave the company a hold rating in a research report on Wednesday. Needham & Company LLC raised their target price on shares of Michael Kors from $69.00 to $75.00 and gave the company a buy rating in a research report on Thursday. Morgan Stanley reaffirmed an equal weight rating and issued a $57.00 target price (up previously from $51.00) on shares of Michael Kors in a research report on Thursday. They noted that the move was a valuation call. Finally, Royal Bank of Canada raised their target price on shares of Michael Kors to $71.00 and gave the company a sector perform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Michael Kors has a consensus rating of Hold and a consensus price target of $61.76.

Shares of Michael Kors (KORS) traded down $3.32 during trading hours on Thursday, hitting $56.71. 3,356,533 shares of the company were exchanged, compared to its average volume of 2,191,545. Michael Kors has a fifty-two week low of $32.38 and a fifty-two week high of $69.95. The company has a current ratio of 2.00, a quick ratio of 1.34 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $10,053.13, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.93 and a beta of 0.08.

Michael Kors (NYSE:KORS) last issued its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. equities analysts predict that Michael Kors will post 4.46 earnings per share for the current year.

In other news, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.93, for a total value of $419,475.00. Following the completion of the transaction, the senior vice president now owns 10,647 shares of the company’s stock, valued at approximately $595,486.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Pascale Meyran sold 6,835 shares of Michael Kors stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the completion of the transaction, the senior vice president now directly owns 10,081 shares of the company’s stock, valued at approximately $604,960.81. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KORS. American Century Companies Inc. grew its position in shares of Michael Kors by 2,006.2% in the 4th quarter. American Century Companies Inc. now owns 1,342,506 shares of the lifestyle brand’s stock valued at $84,511,000 after acquiring an additional 1,278,764 shares during the period. Bank of Montreal Can grew its position in shares of Michael Kors by 568.5% in the 4th quarter. Bank of Montreal Can now owns 1,115,901 shares of the lifestyle brand’s stock valued at $70,246,000 after acquiring an additional 948,966 shares during the period. Acadian Asset Management LLC grew its position in shares of Michael Kors by 493.5% in the 4th quarter. Acadian Asset Management LLC now owns 939,826 shares of the lifestyle brand’s stock valued at $59,163,000 after acquiring an additional 781,460 shares during the period. Ardevora Asset Management LLP bought a new stake in shares of Michael Kors during the 3rd quarter worth about $37,089,000. Finally, Contrarius Investment Management Ltd boosted its holdings in shares of Michael Kors by 171.8% during the 3rd quarter. Contrarius Investment Management Ltd now owns 702,327 shares of the lifestyle brand’s stock worth $33,606,000 after buying an additional 443,965 shares during the period. 86.57% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Michael Kors (NYSE:KORS)

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