Michael Kors (NYSE:KORS) had its price objective trimmed by Robert W. Baird from $70.00 to $65.00 in a research note published on Thursday. The firm currently has a neutral rating on the lifestyle brand’s stock.
KORS has been the subject of a number of other research reports. Piper Jaffray Companies set a $71.00 price objective on Michael Kors and gave the company a hold rating in a report on Friday, August 17th. Zacks Investment Research downgraded Michael Kors from a strong-buy rating to a hold rating in a report on Wednesday, September 26th. ValuEngine downgraded Michael Kors from a buy rating to a hold rating in a report on Tuesday, October 2nd. Deutsche Bank lowered their price target on Michael Kors from $84.00 to $83.00 and set a buy rating for the company in a report on Thursday, November 1st. Finally, Telsey Advisory Group increased their price target on Michael Kors from $67.00 to $75.00 and gave the stock a market perform rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Michael Kors presently has an average rating of Hold and an average target price of $73.52.
NYSE KORS traded down $2.31 on Thursday, reaching $47.78. The company had a trading volume of 5,412,741 shares, compared to its average volume of 2,846,655. The company has a market capitalization of $8.58 billion, a PE ratio of 10.57, a P/E/G ratio of 1.81 and a beta of 0.39. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.27. Michael Kors has a 52 week low of $47.47 and a 52 week high of $75.96.
Michael Kors (NYSE:KORS) last released its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. As a group, sell-side analysts predict that Michael Kors will post 5 earnings per share for the current fiscal year.
In related news, insider Michael David Kors sold 179,920 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $71.35, for a total transaction of $12,837,292.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $72.99, for a total value of $10,948,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 846,436 shares of company stock valued at $60,640,959. 6.00% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. LPL Financial LLC boosted its position in Michael Kors by 65.6% during the first quarter. LPL Financial LLC now owns 8,038 shares of the lifestyle brand’s stock valued at $499,000 after purchasing an additional 3,185 shares during the last quarter. Principal Financial Group Inc. boosted its position in Michael Kors by 25.3% during the first quarter. Principal Financial Group Inc. now owns 611,403 shares of the lifestyle brand’s stock valued at $37,956,000 after purchasing an additional 123,429 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Michael Kors by 1,220.6% during the first quarter. Allianz Asset Management GmbH now owns 75,712 shares of the lifestyle brand’s stock valued at $4,700,000 after purchasing an additional 69,979 shares during the last quarter. DnB Asset Management AS boosted its position in Michael Kors by 13.4% during the second quarter. DnB Asset Management AS now owns 16,973 shares of the lifestyle brand’s stock valued at $1,130,000 after purchasing an additional 2,000 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Michael Kors by 37.2% during the second quarter. IFM Investors Pty Ltd now owns 8,139 shares of the lifestyle brand’s stock valued at $542,000 after purchasing an additional 2,208 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
About Michael Kors
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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