Michael Kors Holdings Limited (KORS) Receives Buy Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research report report published on Friday morning.

Several other research analysts have also recently issued reports on KORS. Canaccord Genuity raised their target price on shares of Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a hold rating in a report on Wednesday, August 9th. BMO Capital Markets restated a market perform rating and issued a $46.00 target price (up previously from $35.00) on shares of Michael Kors Holdings Limited in a report on Wednesday, August 9th. Cowen and Company restated a market perform rating and issued a $45.00 target price (up previously from $35.00) on shares of Michael Kors Holdings Limited in a report on Thursday, August 10th. Bank of America Corporation restated a neutral rating and issued a $58.00 target price on shares of Michael Kors Holdings Limited in a report on Tuesday, November 7th. Finally, Telsey Advisory Group raised their target price on shares of Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a market perform rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Michael Kors Holdings Limited presently has a consensus rating of Hold and a consensus price target of $49.84.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded up $0.18 during trading on Friday, hitting $54.71. 2,617,800 shares of the stock traded hands, compared to its average volume of 3,033,369. Michael Kors Holdings Limited has a 1 year low of $32.38 and a 1 year high of $55.25. The company has a market capitalization of $8,319.59, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.85 and a beta of 0.05.

Michael Kors Holdings Limited (NYSE:KORS) last issued its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.50. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. sell-side analysts predict that Michael Kors Holdings Limited will post 3.96 earnings per share for the current year.

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In other Michael Kors Holdings Limited news, CEO John D. Idol sold 500 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $55.12, for a total value of $27,560.00. Following the completion of the transaction, the chief executive officer now owns 1,688,046 shares of the company’s stock, valued at approximately $93,045,095.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.00% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of KORS. Pacer Advisors Inc. purchased a new position in Michael Kors Holdings Limited in the 2nd quarter worth about $114,000. Sandy Spring Bank raised its position in Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after buying an additional 40 shares during the last quarter. TrimTabs Asset Management LLC raised its position in Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after buying an additional 2,325 shares during the last quarter. Creative Planning raised its position in Michael Kors Holdings Limited by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after buying an additional 1,180 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Michael Kors Holdings Limited in the 2nd quarter worth about $188,000. 84.25% of the stock is owned by institutional investors and hedge funds.

Michael Kors Holdings Limited Company Profile

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.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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