Michael Kors Sees Unusually Large Options Volume (NYSE:KORS)

Michael Kors Holdings (NYSE:KORS) was the recipient of unusually large options trading activity on Monday. Investors acquired 12,367 call options on the stock. This is an increase of 926% compared to the average volume of 1,205 call options.

In related news, Director M William Benedetto sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.94, for a total transaction of $255,760.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $62.26, for a total transaction of $9,339,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 557,090 shares of company stock worth $34,547,282. 6.00% of the stock is owned by insiders.

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Large investors have recently modified their holdings of the stock. USA Mutuals Advisors Inc. purchased a new position in Michael Kors during the 4th quarter worth $100,000. Cerebellum GP LLC purchased a new position in Michael Kors during the 4th quarter worth $126,000. Harvest Fund Management Co. Ltd purchased a new position in Michael Kors during the 4th quarter worth $190,000. CAPROCK Group Inc. purchased a new position in Michael Kors during the 4th quarter worth $219,000. Finally, IFP Advisors Inc raised its position in Michael Kors by 29.5% during the 4th quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock worth $216,000 after buying an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.

NYSE:KORS traded up $0.98 during trading hours on Thursday, reaching $66.08. 1,493,501 shares of the company’s stock were exchanged, compared to its average volume of 2,148,647. The stock has a market cap of $9,925.88, a P/E ratio of 15.58, a P/E/G ratio of 1.97 and a beta of 0.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.00 and a quick ratio of 1.06. Michael Kors has a 1-year low of $32.38 and a 1-year high of $69.95.

Michael Kors (NYSE:KORS) last issued its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.48. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. Michael Kors’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 EPS. sell-side analysts expect that Michael Kors will post 4.47 EPS for the current fiscal year.

Several research analysts have commented on the stock. Zacks Investment Research cut shares of Michael Kors from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada set a $71.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Thursday, February 8th. Cowen set a $71.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Wednesday, February 7th. Nomura boosted their price target on shares of Michael Kors from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Bank of America boosted their price target on shares of Michael Kors from $58.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.48.

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About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's apparel and accessories, and men's apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women's apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.

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