The Michael Kors Holdings Ltd (KORS) Rating Reiterated by Jefferies Group LLC

The Michael Kors Holdings Ltd (KORS) Rating Reiterated by Jefferies Group LLC

KORS has been the topic of several other research reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $36.00 target price (down previously from $42.00) on shares of Michael Kors Holdings in a research note on Thursday, February 9th. Deutsche Bank AG downgraded Michael Kors Holdings from a “buy” rating to a “hold” rating and cut their target price for the company from $47.00 to $40.00 in a research note on Monday, May 15th. Mizuho cut their target price on Michael Kors Holdings from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 7th. Royal Bank of Canada reaffirmed a “hold” rating and set a $42.00 target price (down previously from $51.00) on shares of Michael Kors Holdings in a research note on Wednesday, February 8th. Finally, Credit Suisse Group AG reiterated a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Michael Kors Holdings in a research report on Wednesday, May 24th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $40.84.

Michael Kors Holdings Ltd (NYSE:KORS)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They presently have a $60.00 target price on the lifestyle brand’s stock. Jefferies Group LLC’s target price indicates a potential upside of 81.54% from the company’s current price.

Michael Kors Holdings (NYSE:KORS) opened at 33.05 on Thursday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 7.55 and a beta of 0.70. The company’s 50-day moving average price is $36.74 and its 200-day moving average price is $40.26. Michael Kors Holdings has a one year low of $32.38 and a one year high of $53.29.

Michael Kors Holdings (NYSE:KORS) last announced its earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Michael Kors Holdings had a return on equity of 41.96% and a net margin of 16.59%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, analysts anticipate that Michael Kors Holdings will post $3.61 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of KORS. Vanguard Group Inc. increased its position in shares of Michael Kors Holdings by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,619,469 shares of the lifestyle brand’s stock worth $633,368,000 after buying an additional 284,826 shares in the last quarter. BlackRock Inc. increased its position in shares of Michael Kors Holdings by 3,587.4% in the first quarter. BlackRock Inc. now owns 13,985,812 shares of the lifestyle brand’s stock worth $532,997,000 after buying an additional 13,606,521 shares in the last quarter. Flossbach Von Storch AG increased its position in shares of Michael Kors Holdings by 9.1% in the first quarter. Flossbach Von Storch AG now owns 10,606,489 shares of the lifestyle brand’s stock worth $404,213,000 after buying an additional 888,690 shares in the last quarter. State Street Corp increased its position in shares of Michael Kors Holdings by 3.9% in the first quarter. State Street Corp now owns 8,681,138 shares of the lifestyle brand’s stock worth $330,838,000 after buying an additional 325,525 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Michael Kors Holdings by 27.2% in the fourth quarter. AQR Capital Management LLC now owns 4,959,319 shares of the lifestyle brand’s stock worth $213,151,000 after buying an additional 1,061,646 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Michael Kors Holdings 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “KORS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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