BidaskClub downgraded shares of Michael Kors Holdings Limited (NYSE:KORS) from a buy rating to a hold rating in a research note released on Thursday.

Several other equities research analysts have also issued reports on KORS. Canaccord Genuity increased their price objective on shares of Michael Kors Holdings Limited from $33.00 to $43.00 and gave the stock a hold rating in a research report on Wednesday, August 9th. BMO Capital Markets reissued a market perform rating and issued a $46.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a research report on Wednesday, August 9th. Cowen and Company reissued a market perform rating and issued a $45.00 price objective (up previously from $35.00) on shares of Michael Kors Holdings Limited in a research report on Thursday, August 10th. Telsey Advisory Group increased their price objective on shares of Michael Kors Holdings Limited from $38.00 to $49.00 and gave the stock a market perform rating in a research report on Wednesday, August 9th. Finally, Jefferies Group LLC set a $60.00 price objective on shares of Michael Kors Holdings Limited and gave the stock a buy rating in a research report on Sunday, October 29th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have assigned a buy rating to the company. Michael Kors Holdings Limited has a consensus rating of Hold and a consensus price target of $46.50.

Michael Kors Holdings Limited (NYSE:KORS) traded down $0.31 during trading on Thursday, hitting $47.62. 3,981,771 shares of the stock traded hands, compared to its average volume of 1,871,988. The company has a market cap of $7,219.72, a price-to-earnings ratio of 11.56 and a beta of 0.05.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a net margin of 11.91% and a return on equity of 40.26%. The company had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. analysts predict that Michael Kors Holdings Limited will post 3.74 EPS for the current year.

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Large investors have recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in Michael Kors Holdings Limited in the 2nd quarter valued at about $114,000. Sandy Spring Bank lifted its position in Michael Kors Holdings Limited by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock valued at $158,000 after purchasing an additional 40 shares during the last quarter. TrimTabs Asset Management LLC lifted its position in Michael Kors Holdings Limited by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock valued at $164,000 after purchasing an additional 2,325 shares during the last quarter. Creative Planning raised its position in shares of Michael Kors Holdings Limited by 30.8% during the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after buying an additional 1,180 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Michael Kors Holdings Limited during the 2nd quarter worth about $188,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

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.

Analyst Recommendations for Michael Kors Holdings Limited (NYSE:KORS)

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