Michael Kors Holdings Limited (NYSE:KORS) had its price target boosted by Nomura from $41.00 to $51.00 in a research note issued to investors on Wednesday. They currently have a buy rating on the lifestyle brand’s stock.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity increased their target price on shares of Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a hold rating in a research note on Wednesday. Telsey Advisory Group increased their target price on shares of Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a market perform rating in a research note on Wednesday. BMO Capital Markets set a $35.00 target price on shares of Michael Kors Holdings Limited and gave the stock a hold rating in a research note on Tuesday. Piper Jaffray Companies set a $46.00 target price on shares of Michael Kors Holdings Limited and gave the stock a hold rating in a research note on Tuesday. Finally, Buckingham Research set a $34.00 target price on shares of Michael Kors Holdings Limited and gave the stock a hold rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $42.94.

Michael Kors Holdings Limited (NYSE KORS) traded down 1.04% during trading on Wednesday, reaching $44.69. The company had a trading volume of 2,664,119 shares. The stock has a 50 day moving average price of $36.61 and a 200 day moving average price of $37.11. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The firm has a market capitalization of $6.77 billion, a P/E ratio of 13.71 and a beta of 0.10.

Michael Kors Holdings Limited (NYSE:KORS) last posted its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, beating the consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The company had revenue of $952.40 million for the quarter, compared to analyst estimates of $919.18 million. During the same period in the prior year, the company earned $0.88 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts predict that Michael Kors Holdings Limited will post $3.71 earnings per share for the current year.

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Michael Kors Holdings Limited announced that its Board of Directors has initiated a share buyback program on Wednesday, May 31st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in KORS. DUPONT CAPITAL MANAGEMENT Corp increased its stake in shares of Michael Kors Holdings Limited by 0.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 100,283 shares of the lifestyle brand’s stock worth $3,822,000 after buying an additional 624 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Michael Kors Holdings Limited by 39.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,470 shares of the lifestyle brand’s stock worth $361,000 after buying an additional 2,657 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Michael Kors Holdings Limited by 2,251.7% in the first quarter. Acadian Asset Management LLC now owns 28,291 shares of the lifestyle brand’s stock worth $1,079,000 after buying an additional 27,088 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Michael Kors Holdings Limited by 783.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 185,271 shares of the lifestyle brand’s stock worth $7,061,000 after buying an additional 164,303 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in shares of Michael Kors Holdings Limited by 41.6% in the first quarter. DnB Asset Management AS now owns 14,973 shares of the lifestyle brand’s stock worth $571,000 after buying an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Michael Kors Holdings Limited 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.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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