Michael Kors Holdings Ltd (NYSE:KORS) SVP Krista A. Mcdonough sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $42.62, for a total value of $127,860.00. Following the sale, the senior vice president now directly owns 2,423 shares of the company’s stock, valued at approximately $103,268.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NYSE:KORS traded down $2.44 during trading on Friday, hitting $40.48. The company’s stock had a trading volume of 3,599,185 shares, compared to its average volume of 3,080,336. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.71 and a current ratio of 1.48. Michael Kors Holdings Ltd has a fifty-two week low of $40.40 and a fifty-two week high of $75.96. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 1.38 and a beta of 0.32.
Michael Kors (NYSE:KORS) last released its quarterly earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current year.
A number of equities research analysts have issued reports on the company. Guggenheim reissued a “hold” rating on shares of Michael Kors in a research report on Tuesday, September 25th. Piper Jaffray Companies set a $71.00 price target on Michael Kors and gave the company a “hold” rating in a research report on Friday, August 17th. TheStreet downgraded Michael Kors from a “b-” rating to a “c+” rating in a research report on Thursday. Buckingham Research boosted their price target on Michael Kors from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Finally, Citigroup raised Michael Kors from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.04.
Large investors have recently added to or reduced their stakes in the stock. Signet Financial Management LLC bought a new stake in Michael Kors in the second quarter valued at about $140,000. First Mercantile Trust Co. increased its holdings in Michael Kors by 114.3% in the third quarter. First Mercantile Trust Co. now owns 2,400 shares of the lifestyle brand’s stock valued at $164,000 after buying an additional 1,280 shares during the last quarter. Cerebellum GP LLC bought a new stake in Michael Kors in the third quarter valued at about $169,000. Dynamic Technology Lab Private Ltd bought a new stake in Michael Kors in the second quarter valued at about $200,000. Finally, Financial Gravity Wealth Inc. bought a new stake in Michael Kors in the third quarter valued at about $203,000. Institutional investors and hedge funds own 86.94% of the company’s stock.
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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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