Michael Kors Holdings Ltd (NYSE:KORS) – Research analysts at William Blair lifted their Q4 2019 EPS estimates for shares of Michael Kors in a note issued to investors on Wednesday, November 7th. William Blair analyst D. Carden now anticipates that the lifestyle brand will earn $0.85 per share for the quarter, up from their previous forecast of $0.76. William Blair also issued estimates for Michael Kors’ Q1 2020 earnings at $1.39 EPS, Q2 2020 earnings at $1.26 EPS, Q4 2020 earnings at $0.90 EPS and FY2020 earnings at $5.13 EPS.
KORS has been the topic of several other research reports. Piper Jaffray Companies set a $71.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Friday, August 17th. Zacks Investment Research downgraded shares of Michael Kors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine downgraded shares of Michael Kors from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Deutsche Bank cut their price target on shares of Michael Kors from $84.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Telsey Advisory Group upped their price objective on Michael Kors from $67.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.52.
Shares of NYSE:KORS opened at $47.78 on Friday. Michael Kors has a twelve month low of $47.47 and a twelve month high of $75.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 1.48. The company has a market capitalization of $7.53 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 1.58 and a beta of 0.39.
Michael Kors (NYSE:KORS) last issued its quarterly earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Michael Kors had a net margin of 11.57% and a return on equity of 36.66%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Michael Kors’s quarterly revenue was up 9.3% on a year-over-year basis.
In other news, insider Michael David Kors sold 179,920 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $71.35, for a total transaction of $12,837,292.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John D. Idol sold 6,676 shares of the stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $65.26, for a total value of $435,675.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 846,436 shares of company stock worth $60,640,959. Insiders own 6.00% of the company’s stock.
Several large investors have recently made changes to their positions in KORS. Signet Financial Management LLC acquired a new position in Michael Kors in the 2nd quarter valued at $140,000. First Mercantile Trust Co. raised its stake in Michael Kors by 114.3% in the 3rd quarter. First Mercantile Trust Co. now owns 2,400 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 1,280 shares during the last quarter. Cerebellum GP LLC acquired a new position in Michael Kors in the 3rd quarter valued at $169,000. Dynamic Technology Lab Private Ltd acquired a new position in Michael Kors in the 2nd quarter valued at $200,000. Finally, Conning Inc. acquired a new position in Michael Kors in the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Michael Kors Company Profile
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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