Michael Kors Holdings (NYSE:KORS) CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $66.23, for a total transaction of $9,934,500.00. Following the completion of the transaction, the chief executive officer now owns 1,774,643 shares of the company’s stock, valued at $117,534,605.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of KORS opened at $65.01 on Friday. The company has a market cap of $9,998.92, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.99 and a beta of 0.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.00. Michael Kors Holdings has a twelve month low of $32.38 and a twelve month high of $69.95.
Michael Kors (NYSE:KORS) last issued its quarterly earnings data on Wednesday, February 7th. The lifestyle brand reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. analysts predict that Michael Kors Holdings will post 4.47 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp raised its position in shares of Michael Kors by 8.7% in the fourth quarter. Dupont Capital Management Corp now owns 124,314 shares of the lifestyle brand’s stock valued at $7,826,000 after purchasing an additional 9,968 shares during the period. Suntrust Banks Inc. bought a new position in shares of Michael Kors in the fourth quarter valued at approximately $295,000. Municipal Employees Retirement System of Michigan raised its position in shares of Michael Kors by 102.6% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 7,940 shares of the lifestyle brand’s stock valued at $500,000 after purchasing an additional 4,020 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Michael Kors by 29.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,210,424 shares of the lifestyle brand’s stock valued at $57,918,000 after purchasing an additional 277,810 shares during the period. Finally, Parametrica Management Ltd bought a new position in shares of Michael Kors in the fourth quarter valued at approximately $360,000. 85.55% of the stock is currently owned by institutional investors.
Several analysts recently commented on KORS shares. ValuEngine upgraded shares of Michael Kors from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Oppenheimer raised their price target on shares of Michael Kors from $62.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Robert W. Baird set a $58.00 price target on shares of Michael Kors and gave the stock a “hold” rating in a report on Friday, December 22nd. Needham & Company LLC raised their price target on shares of Michael Kors from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Jefferies Group restated a “buy” rating and set a $90.00 price target on shares of Michael Kors in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $64.48.
Michael Kors Company Profile
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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