Trade Report: The Michael Kors Holdings Ltd. (KORS) Upgraded to “Hold” at Vetr Inc.

The Michael Kors Holdings Ltd. (KORS) Upgraded to “Hold” at Vetr Inc.

Michael Kors Holdings Ltd. (NYSE:KORS) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a research report issued on Wednesday. The brokerage presently has a $50.20 price target on the lifestyle brand’s stock. Vetr‘s price objective indicates a potential upside of 2.64% from the company’s previous close.

A number of other brokerages have also issued reports on KORS. Credit Suisse Group AG reiterated a “neutral” rating on shares of Michael Kors Holdings in a research report on Thursday, July 28th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $69.00 price target on shares of Michael Kors Holdings in a report on Monday, August 8th. Jefferies Group reissued a “buy” rating and issued a $75.00 price target on shares of Michael Kors Holdings in a report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Michael Kors Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $56.00 price target on shares of Michael Kors Holdings in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Michael Kors Holdings presently has an average rating of “Hold” and a consensus target price of $53.08.

Shares of Michael Kors Holdings (NYSE:KORS) traded up 0.66% during midday trading on Wednesday, hitting $48.91. 1,095,252 shares of the stock were exchanged. The stock’s 50-day moving average price is $48.52 and its 200 day moving average price is $48.54. The stock has a market cap of $8.02 billion, a P/E ratio of 11.15 and a beta of 0.84. Michael Kors Holdings has a one year low of $34.83 and a one year high of $59.49.

Michael Kors Holdings (NYSE:KORS) last released its quarterly earnings results on Thursday, November 10th. The lifestyle brand reported $0.95 EPS for the quarter, topping the consensus estimate of $0.88 by $0.07. The business earned $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. Michael Kors Holdings had a net margin of 16.94% and a return on equity of 42.50%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. On average, analysts anticipate that Michael Kors Holdings will post $4.41 earnings per share for the current year.

In other news, SVP Lee S. Sporn sold 4,700 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.00, for a total value of $235,000.00. Following the completion of the sale, the senior vice president now directly owns 22,653 shares of the company’s stock, valued at $1,132,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lee S. Sporn sold 26,341 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $50.02, for a total value of $1,317,576.82. Following the completion of the sale, the senior vice president now directly owns 40,707 shares of the company’s stock, valued at $2,036,164.14. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Several large investors have recently bought and sold shares of KORS. Mizuho Asset Management Co. Ltd. boosted its stake in Michael Kors Holdings by 58.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,413 shares of the lifestyle brand’s stock valued at $119,000 after buying an additional 891 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Michael Kors Holdings during the third quarter valued at $125,000. Tower Research Capital LLC TRC boosted its stake in Michael Kors Holdings by 722.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,878 shares of the lifestyle brand’s stock valued at $142,000 after buying an additional 2,528 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Michael Kors Holdings during the second quarter valued at $148,000. Finally, Toronto Dominion Bank boosted its stake in Michael Kors Holdings by 114.8% in the second quarter. Toronto Dominion Bank now owns 2,986 shares of the lifestyle brand’s stock valued at $148,000 after buying an additional 1,596 shares in the last quarter. 92.31% of the stock is owned by institutional investors.

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.

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