Michael Kors (NYSE:KORS) had its price target lifted by Buckingham Research from $84.00 to $85.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the lifestyle brand’s stock. Buckingham Research’s price objective points to a potential upside of 16.47% from the company’s previous close.

A number of other equities research analysts have also issued reports on KORS. MKM Partners set a $74.00 price target on Michael Kors and gave the stock a “hold” rating in a research note on Thursday, August 9th. Credit Suisse Group increased their price target on Michael Kors from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $84.00 price target on shares of Michael Kors in a research note on Wednesday, August 8th. Needham & Company LLC increased their price target on Michael Kors from $75.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Telsey Advisory Group increased their price target on Michael Kors from $67.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and seventeen have issued a buy rating to the stock. Michael Kors currently has a consensus rating of “Hold” and a consensus target price of $73.33.

NYSE:KORS opened at $72.98 on Thursday. Michael Kors has a one year low of $41.47 and a one year high of $74.07. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $10.85 billion, a PE ratio of 16.15, a P/E/G ratio of 2.12 and a beta of -0.01.

Michael Kors (NYSE:KORS) last issued its quarterly earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.37. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.80 EPS. Michael Kors’s revenue for the quarter was up 26.3% compared to the same quarter last year. sell-side analysts expect that Michael Kors will post 5.02 EPS for the current fiscal year.

In related news, SVP Cathy Marie Robinson sold 6,097 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $63.58, for a total value of $387,647.26. Following the completion of the transaction, the senior vice president now owns 24,936 shares of the company’s stock, valued at approximately $1,585,430.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Idol sold 150,000 shares of the stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $68.20, for a total transaction of $10,230,000.00. Following the completion of the transaction, the chief executive officer now directly owns 537,546 shares of the company’s stock, valued at approximately $36,660,637.20. The disclosure for this sale can be found here. Insiders have sold a total of 798,117 shares of company stock valued at $55,683,546 in the last three months. Insiders own 6.00% of the company’s stock.

Several large investors have recently made changes to their positions in KORS. Millennium Management LLC lifted its holdings in shares of Michael Kors by 308.8% in the 2nd quarter. Millennium Management LLC now owns 2,651,631 shares of the lifestyle brand’s stock valued at $176,599,000 after acquiring an additional 2,003,044 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Michael Kors by 109.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,763,621 shares of the lifestyle brand’s stock valued at $117,457,000 after acquiring an additional 923,447 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Michael Kors by 351.4% in the 2nd quarter. Wells Fargo & Company MN now owns 711,990 shares of the lifestyle brand’s stock valued at $47,417,000 after acquiring an additional 554,253 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Michael Kors by 72.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,184,392 shares of the lifestyle brand’s stock valued at $73,528,000 after acquiring an additional 497,056 shares during the last quarter. Finally, Unigestion Holding SA bought a new position in shares of Michael Kors in the 2nd quarter valued at about $31,418,000. 81.26% of the stock is owned by hedge funds and other institutional investors.

About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Analyst Recommendations for Michael Kors (NYSE:KORS)

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