Michael Kors Holdings Limited (KORS) Given a $31.00 Price Target at Oppenheimer Holdings, Inc.

Oppenheimer Holdings, Inc. set a $31.00 price objective on Michael Kors Holdings Limited (NYSE:KORS) in a research report released on Wednesday, May 31st. The firm currently has a hold rating on the lifestyle brand’s stock.

A number of other analysts also recently issued reports on KORS. Deutsche Bank AG decreased their price target on Michael Kors Holdings Limited from $50.00 to $47.00 and set a buy rating for the company in a report on Tuesday, April 25th. Wedbush restated a neutral rating and issued a $36.00 price target on shares of Michael Kors Holdings Limited in a research report on Tuesday, March 21st. Zacks Investment Research lowered Michael Kors Holdings Limited from a hold rating to a sell rating in a research note on Tuesday, April 11th. Jefferies Group LLC set a $65.00 target price on Michael Kors Holdings Limited and gave the company a buy rating in a research note on Monday, April 10th. Finally, BMO Capital Markets reiterated a hold rating and issued a $38.00 price target on shares of Michael Kors Holdings Limited in a report on Wednesday, March 15th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $40.63.

Shares of Michael Kors Holdings Limited (NYSE KORS) traded down 2.16% during mid-day trading on Wednesday, reaching $33.93. The company’s stock had a trading volume of 1,138,196 shares. The stock has a market capitalization of $5.28 billion, a P/E ratio of 10.31 and a beta of 0.15. The company’s 50-day moving average price is $36.14 and its 200-day moving average price is $39.45. Michael Kors Holdings Limited has a 12-month low of $32.38 and a 12-month high of $53.29.

Michael Kors Holdings Limited (NYSE:KORS) last posted its earnings results on Wednesday, May 31st. The lifestyle brand reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Michael Kors Holdings Limited will post $3.56 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in KORS. Vanguard Group Inc. increased its position in shares of Michael Kors Holdings Limited 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 Limited 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 Limited 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 Limited 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 Limited 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. 85.15% of the stock is owned by institutional investors.

About Michael Kors Holdings Limited

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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