Several analysts have recently updated their ratings and price targets for Michael Kors (NYSE: KORS):

  • 10/16/2018 – Michael Kors was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “In the past three months, shares of Michael Kors has not only declined but also underperformed the industry. We note that the company is witnessing soft Wholesale & Licensing Revenue for a while now. This is likely to likely to persist throughout fiscal 2019. Also, its efforts to heavily invest in new store openings, expanding the existing outlets, expansion of international operations, digital flagships and global infrastructure is weighing on operating margins. Moreover, management’s bottom line projection for second quarter fiscal 2019 came below analyst expectations. Nevertheless, the company has been constantly deploying resources to expand product offerings, build shop-in-shops, and upgrade distribution infrastructure. This along with the Runway 2020 plan, cost containment efforts, inventory management and focus on e-commerce platform bode well.”
  • 10/9/2018 – Michael Kors was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Michael Kors have risen and outpaced the industry in a year. The company has been constantly deploying resources to expand product offerings, build shop-in-shops, and upgrade distribution infrastructure. This along with the Runway 2020 plan, cost containment efforts, inventory management, focus on e-commerce platform and accretive buyouts bode well. Strategic acquisitions such as that of Jimmy Choo for $1.35B and Versace for $2.12B strengthens Michael Kors’ ambition to become a global luxury player. Management stated that the addition of Versace will help augment group’s revenues to $8 billion in the long term. However, the buyout is likely to dilute earnings per share in the high-single digits in fiscal 2020 but is expected to be accretive in the low-single digits in fiscal 2021 and again in high-single digits in fiscal 2022. Upon the completion of the buyout, Michael Kors will be renamed as Capri Holdings Limited.”
  • 10/4/2018 – Michael Kors was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $76.00 price target on the stock. According to Zacks, “Shares of Michael Kors have risen and outpaced the industry in a year. The company has been constantly deploying resources to expand product offerings, build shop-in-shops, and upgrade distribution infrastructure. This along with the Runway 2020 plan, cost containment efforts, inventory management, focus on e-commerce platform and accretive buyouts bode well. Strategic acquisitions such as that of Jimmy Choo for $1.35B and Versace for $2.12B strengthens Michael Kors’ ambition to become a global luxury player. Management stated that the addition of Versace will help augment group’s revenues to $8 billion in the long term. However, the buyout is likely to dilute earnings per share in the high-single digits in fiscal 2020 but is expected to be accretive in the low-single digits in fiscal 2021 and again in high-single digits in fiscal 2022. Upon the completion of the buyout, Michael Kors will be renamed as Capri Holdings Limited.”
  • 10/3/2018 – Michael Kors was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating. They now have a $79.00 price target on the stock.
  • 10/2/2018 – Michael Kors was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/26/2018 – Michael Kors was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Shares of Michael Kors have risen and outpaced the industry in a year. The company has been constantly deploying resources to expand product offerings, build shop-in-shops, and upgrade distribution infrastructure. This along with the Runway 2020 plan, cost containment efforts, inventory management, focus on e-commerce platform and accretive buyouts bode well. Strategic acquisitions such as that of Jimmy Choo for $1.35B and Versace for $2.12B strengthens Michael Kors’ ambition to become a global luxury player. Management stated that the addition of Versace will help augment group’s revenues to $8 billion in the long term. However, the buyout is likely to dilute earnings per share in the high-single digits in fiscal 2020 but is expected to be accretive in the low-single digits in fiscal 2021 and again in high-single digits in fiscal 2022. Upon the completion of the buyout, Michael Kors will be renamed as Capri Holdings Limited.”
  • 9/26/2018 – Michael Kors was given a new $90.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 9/26/2018 – Michael Kors had its price target lowered by analysts at Needham & Company LLC from $79.00 to $75.00. They now have a “buy” rating on the stock.
  • 9/25/2018 – Michael Kors had its “hold” rating reaffirmed by analysts at Guggenheim.
  • 9/24/2018 – Michael Kors had its “hold” rating reaffirmed by analysts at Wells Fargo & Co.
  • 8/17/2018 – Michael Kors was given a new $71.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.

Michael Kors stock traded up $1.30 during mid-day trading on Tuesday, hitting $63.76. 157,070 shares of the company were exchanged, compared to its average volume of 2,343,233. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 0.63. Michael Kors Holdings Ltd has a 1-year low of $47.49 and a 1-year high of $75.96. The firm has a market capitalization of $10.24 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.16 and a beta of 0.12.

Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.37. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. On average, equities research analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.

In other news, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $67.99, for a total value of $10,198,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael David Kors sold 179,920 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $73.62, for a total value of $13,245,710.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 996,436 shares of company stock valued at $70,839,459. 6.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of KORS. Millennium Management LLC boosted its holdings in Michael Kors by 308.8% in the second quarter. Millennium Management LLC now owns 2,651,631 shares of the lifestyle brand’s stock valued at $176,599,000 after acquiring an additional 2,003,044 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Michael Kors by 109.9% in the second quarter. Janus Henderson Group PLC now owns 1,763,621 shares of the lifestyle brand’s stock valued at $117,457,000 after acquiring an additional 923,447 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Michael Kors by 351.4% in the second quarter. Wells Fargo & Company MN now owns 711,990 shares of the lifestyle brand’s stock valued at $47,417,000 after acquiring an additional 554,253 shares during the last quarter. Unigestion Holding SA bought a new position in Michael Kors in the second quarter valued at about $31,418,000. Finally, BlackRock Inc. boosted its holdings in Michael Kors by 4.4% in the second quarter. BlackRock Inc. now owns 11,127,939 shares of the lifestyle brand’s stock valued at $741,120,000 after acquiring an additional 465,815 shares during the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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