ValuEngine cut shares of Michael Kors (NYSE:KORS) from a hold rating to a sell rating in a research note published on Wednesday morning.

Other analysts also recently issued reports about the company. Needham & Company LLC raised their price objective on Michael Kors from $75.00 to $79.00 and gave the stock a buy rating in a research report on Thursday, August 9th. Nomura raised their price objective on Michael Kors from $80.00 to $85.00 and gave the stock a buy rating in a research report on Thursday, August 9th. Jefferies Financial Group raised their price objective on Michael Kors from $90.00 to $93.00 and gave the stock a buy rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a buy rating and issued a $84.00 target price on shares of Michael Kors in a research report on Wednesday, August 8th. Finally, Zacks Investment Research raised Michael Kors from a hold rating to a buy rating and set a $81.00 target price for the company in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $73.52.

Shares of NYSE:KORS traded down $2.31 during midday trading on Wednesday, reaching $47.78. 5,413,749 shares of the company’s stock were exchanged, compared to its average volume of 3,435,401. The company has a current ratio of 1.48, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.55 and a beta of 0.39. Michael Kors has a fifty-two week low of $47.47 and a fifty-two week high of $75.96.

Michael Kors (NYSE:KORS) last issued its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.18. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. As a group, equities research analysts predict that Michael Kors will post 5.01 earnings per share for the current fiscal year.

In other news, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $73.24, for a total value of $10,986,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael David Kors sold 179,920 shares of Michael Kors stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $73.62, for a total value of $13,245,710.40. The disclosure for this sale can be found here. Insiders sold a total of 846,436 shares of company stock valued at $60,640,959 in the last quarter. Company insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KORS. Nissay Asset Management Corp Japan ADV lifted its stake in Michael Kors by 5.1% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 16,121 shares of the lifestyle brand’s stock worth $1,074,000 after purchasing an additional 780 shares during the last quarter. LMR Partners LLP lifted its stake in Michael Kors by 19.5% during the second quarter. LMR Partners LLP now owns 5,072 shares of the lifestyle brand’s stock worth $338,000 after purchasing an additional 827 shares during the last quarter. World Asset Management Inc lifted its stake in Michael Kors by 9.2% during the second quarter. World Asset Management Inc now owns 10,631 shares of the lifestyle brand’s stock worth $708,000 after purchasing an additional 896 shares during the last quarter. Fulton Bank N.A. lifted its stake in Michael Kors by 7.9% during the third quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock worth $863,000 after purchasing an additional 918 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Michael Kors by 2.2% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,154 shares of the lifestyle brand’s stock worth $2,874,000 after purchasing an additional 934 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

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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