Michael Kors Holdings Limited (KORS) Given “Neutral” Rating at Credit Suisse Group

Credit Suisse Group reissued their neutral rating on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research note issued to investors on Wednesday, May 24th, MarketBeat Ratings reports. Credit Suisse Group currently has a $39.00 target price on the lifestyle brand’s stock, down from their prior target price of $42.00.

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

Michael Kors Holdings Limited (KORS) traded down 0.23% on Wednesday, hitting $34.60. 3,263,755 shares of the company were exchanged. Michael Kors Holdings Limited has a 52-week low of $32.38 and a 52-week high of $53.29. The firm has a 50 day moving average of $36.04 and a 200-day moving average of $39.36. The stock has a market cap of $5.39 billion, a PE ratio of 10.52 and a beta of 0.15.

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

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Institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its position in Michael Kors Holdings Limited by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,620 shares of the lifestyle brand’s stock worth $263,000 after buying an additional 20 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Michael Kors Holdings Limited by 0.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 21,290 shares of the lifestyle brand’s stock worth $996,000 after buying an additional 100 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Michael Kors Holdings Limited by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,194 shares of the lifestyle brand’s stock worth $998,000 after buying an additional 125 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Michael Kors Holdings Limited by 3.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand’s stock valued at $244,000 after buying an additional 190 shares during the period. Finally, Horizon Investment Services LLC increased its position in shares of Michael Kors Holdings Limited by 3.0% in the third quarter. Horizon Investment Services LLC now owns 7,555 shares of the lifestyle brand’s stock valued at $353,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.

Michael Kors Holdings Limited 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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