Michael Kors Holdings Ltd (NYSE:KORS) – Jefferies Group lifted their FY2018 EPS estimates for Michael Kors in a note issued to investors on Wednesday. Jefferies Group analyst R. Konik now anticipates that the lifestyle brand will post earnings per share of $4.50 for the year, up from their prior forecast of $4.00. Jefferies Group currently has a “Buy” rating and a $90.00 target price on the stock. Jefferies Group also issued estimates for Michael Kors’ FY2019 earnings at $5.00 EPS.
Other equities research analysts have also issued reports about the company. MKM Partners upgraded Michael Kors from a “sell” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Tuesday, November 7th. ValuEngine upgraded Michael Kors from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Robert W. Baird set a $62.00 target price on Michael Kors and gave the stock a “hold” rating in a report on Sunday, January 21st. Cowen restated a “hold” rating on shares of Michael Kors in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded Michael Kors from a “hold” rating to a “strong-buy” rating and set a $63.00 target price for the company in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Michael Kors presently has an average rating of “Hold” and an average price target of $62.32.
Michael Kors (NYSE:KORS) last announced its quarterly earnings results on Wednesday, February 7th. The lifestyle brand reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.48. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Michael Kors had a return on equity of 40.86% and a net margin of 11.32%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. bought a new stake in shares of Michael Kors during the fourth quarter valued at approximately $295,000. American International Group Inc. increased its position in shares of Michael Kors by 9.6% during the fourth quarter. American International Group Inc. now owns 54,224 shares of the lifestyle brand’s stock valued at $3,413,000 after purchasing an additional 4,727 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Michael Kors by 205.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,017,371 shares of the lifestyle brand’s stock valued at $64,044,000 after purchasing an additional 684,310 shares during the period. Employees Retirement System of Texas increased its position in shares of Michael Kors by 11.0% during the fourth quarter. Employees Retirement System of Texas now owns 40,400 shares of the lifestyle brand’s stock valued at $2,543,000 after purchasing an additional 4,000 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Michael Kors during the fourth quarter valued at approximately $1,280,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
In other news, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.01, for a total transaction of $410,168.35. Following the sale, the senior vice president now directly owns 10,081 shares in the company, valued at $604,960.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $55.93, for a total value of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares in the company, valued at $595,486.71. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.
Michael Kors 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.
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