Piper Jaffray Companies restated their hold rating on shares of Michael Kors (NYSE:KORS) in a research report released on Monday, February 5th. They currently have a $72.00 price target on the lifestyle brand’s stock.
KORS has been the topic of a number of other research reports. Wolfe Research upgraded shares of Michael Kors from a peer perform rating to an outperform rating and set a $73.00 target price on the stock in a report on Thursday, December 14th. ValuEngine raised shares of Michael Kors from a hold rating to a buy rating in a research report on Tuesday, November 14th. Canaccord Genuity reaffirmed a buy rating and issued a $67.00 price objective (up from $58.00) on shares of Michael Kors in a research report on Friday, November 3rd. Goldman Sachs Group started coverage on shares of Michael Kors in a research report on Tuesday, December 5th. They issued a buy rating and a $70.00 price objective for the company. Finally, Needham & Company LLC assumed coverage on shares of Michael Kors in a research report on Monday, December 18th. They issued a buy rating and a $69.00 price objective for the company. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $62.32.
Michael Kors (KORS) traded up $0.80 during mid-day trading on Monday, reaching $61.69. 497,962 shares of the company traded hands, compared to its average volume of 2,354,927. The firm has a market capitalization of $9,099.61, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.74 and a beta of 0.08. The company has a current ratio of 2.00, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. Michael Kors has a 1-year low of $32.38 and a 1-year high of $69.95.
Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the business earned $1.64 earnings per share. Michael Kors’s revenue for the quarter was up 6.4% on a year-over-year basis. equities analysts anticipate that Michael Kors will post 4.48 earnings per share for the current year.
In other news, SVP Krista A. Mcdonough sold 7,500 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares in the company, valued at approximately $595,486.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Pascale Meyran sold 6,835 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total transaction of $410,168.35. Following the transaction, the senior vice president now directly owns 10,081 shares in the company, 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.
Hedge funds have recently added to or reduced their stakes in the stock. APG Asset Management N.V. grew its holdings in Michael Kors by 0.5% in the 3rd quarter. APG Asset Management N.V. now owns 4,454,174 shares of the lifestyle brand’s stock worth $213,132,000 after acquiring an additional 23,200 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Michael Kors by 0.8% during the 3rd quarter. Schroder Investment Management Group now owns 2,429,162 shares of the lifestyle brand’s stock valued at $115,895,000 after purchasing an additional 19,006 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Michael Kors by 2,006.2% during 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 purchasing an additional 1,278,764 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Michael Kors by 29.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,210,424 shares of the lifestyle brand’s stock valued at $57,918,000 after purchasing an additional 277,810 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Michael Kors by 568.5% during 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. 87.93% of the stock is currently owned by institutional investors.
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About Michael Kors
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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