Michael Kors Holdings (NYSE:KORS) shares gapped up before the market opened on Monday . The stock had previously closed at $62.68, but opened at $65.01. Michael Kors shares last traded at $67.85, with a volume of 2808625 shares changing hands.
A number of research firms have commented on KORS. Royal Bank of Canada set a $71.00 target price on shares of Michael Kors and gave the company a “hold” rating in a research report on Thursday, February 8th. Nomura raised their target price on shares of Michael Kors from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Cowen set a $71.00 price target on shares of Michael Kors and gave the company a “hold” rating in a report on Wednesday, February 7th. Bank of America raised their price target on shares of Michael Kors from $58.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Piper Jaffray restated a “hold” rating and issued a $72.00 price target on shares of Michael Kors in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $65.59.
The company has a market capitalization of $9,892.40, a P/E ratio of 16.00, 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 quick ratio of 1.06 and a current ratio of 2.00.
Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.48. Michael Kors had a net margin of 11.32% and a return on equity of 40.86%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $1.64 EPS. Michael Kors’s revenue for the quarter was up 6.4% on a year-over-year basis. research analysts expect that Michael Kors Holdings will post 4.47 EPS for the current year.
In other Michael Kors news, insider Michael David Kors sold 246,590 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $61.30, for a total transaction of $15,115,967.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,774,643 shares of the company’s stock, valued at $117,534,605.89. The disclosure for this sale can be found here. Insiders have sold a total of 707,090 shares of company stock valued at $44,481,782 over the last three months. 6.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. USA Mutuals Advisors Inc. purchased a new position in Michael Kors during the 4th quarter worth approximately $100,000. Cerebellum GP LLC purchased a new position in shares of Michael Kors during the 4th quarter valued at approximately $126,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Michael Kors during the 4th quarter valued at approximately $190,000. IFP Advisors Inc increased its holdings in shares of Michael Kors by 29.5% during the 4th quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after purchasing an additional 781 shares in the last quarter. Finally, CAPROCK Group Inc. purchased a new position in shares of Michael Kors during the 4th quarter valued at approximately $219,000. 85.21% of the stock is owned by institutional investors.
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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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