Michael Kors (NYSE:KORS) had its price objective upped by Bank of America from $58.00 to $69.00 in a research report released on Thursday. Bank of America currently has a neutral rating on the lifestyle brand’s stock.
Several other research firms have also weighed in on KORS. OTR Global raised shares of Michael Kors to a positive rating in a research note on Tuesday, January 30th. Barclays lifted their price target on shares of Michael Kors from $58.00 to $69.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Oppenheimer lifted their price target on shares of Michael Kors from $62.00 to $74.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Jefferies Group reaffirmed a buy rating and issued a $90.00 price target on shares of Michael Kors in a research note on Wednesday. Finally, Needham & Company LLC lifted their price target on shares of Michael Kors from $69.00 to $75.00 and gave the company a buy rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Michael Kors presently has an average rating of Hold and a consensus price target of $61.76.
Michael Kors (NYSE:KORS) traded down $3.10 during trading on Thursday, reaching $56.93. 2,767,866 shares of the company traded hands, compared to its average volume of 2,185,931. Michael Kors has a twelve month low of $32.38 and a twelve month high of $69.95. The company has a market cap of $10,053.13, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.93 and a beta of 0.08. The company has a quick ratio of 1.34, a current ratio of 2.00 and a debt-to-equity ratio of 0.48.
In related news, SVP Krista A. Mcdonough sold 7,500 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares in the company, valued at $595,486.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Pascale Meyran sold 6,835 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 10,081 shares in the company, valued at $604,960.81. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. USA Mutuals Advisors Inc. acquired a new position in Michael Kors during the fourth quarter worth $100,000. Cerebellum GP LLC acquired a new position in shares of Michael Kors in the fourth quarter valued at $126,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Michael Kors in the fourth quarter valued at $190,000. IFP Advisors Inc increased its holdings in shares of Michael Kors by 29.5% in the fourth quarter. IFP Advisors Inc now owns 3,432 shares of the lifestyle brand’s stock valued at $216,000 after purchasing an additional 781 shares during the last quarter. Finally, CAPROCK Group Inc. acquired a new position in shares of Michael Kors in the fourth quarter valued at $219,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
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About Michael Kors
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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