Michael Kors Holdings Ltd (NYSE:KORS) Director Stephen F. Reitman sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $62.47, for a total value of $406,055.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Michael Kors Holdings Ltd (KORS) opened at $63.90 on Friday. The company has a market capitalization of $9,723.47, a PE ratio of 13.80, a P/E/G ratio of 2.04 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 Holdings Ltd has a twelve month low of $32.38 and a twelve month high of $69.95.
Michael Kors (NYSE:KORS) last announced its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, beating the consensus estimate of $1.29 by $0.48. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.38 billion. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. research analysts predict that Michael Kors Holdings Ltd will post 4.48 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Balasa Dinverno & Foltz LLC raised its holdings in shares of Michael Kors by 19.3% during the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after buying an additional 1,404 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Michael Kors during the 3rd quarter valued at about $4,255,000. Victory Capital Management Inc. raised its holdings in shares of Michael Kors by 1,510.2% during the 3rd quarter. Victory Capital Management Inc. now owns 43,233 shares of the lifestyle brand’s stock valued at $2,069,000 after buying an additional 40,548 shares during the period. California Public Employees Retirement System raised its holdings in shares of Michael Kors by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 500,027 shares of the lifestyle brand’s stock valued at $23,926,000 after buying an additional 14,927 shares during the period. Finally, Schroder Investment Management Group increased its holdings in 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 worth $115,895,000 after purchasing an additional 19,006 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
A number of analysts have issued reports on KORS shares. Wolfe Research raised Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Thursday, December 14th. ValuEngine raised Michael Kors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity reissued a “buy” rating and issued a $67.00 price target (up from $58.00) on shares of Michael Kors in a research note on Friday, November 3rd. Goldman Sachs Group started coverage on Michael Kors in a research note on Tuesday, December 5th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Needham & Company LLC started coverage on Michael Kors in a research note on Monday, December 18th. They issued a “buy” rating and a $69.00 price target on the stock. One equities 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 currently has an average rating of “Hold” and an average target price of $62.32.
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Michael Kors 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.
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