Michael Kors (NYSE:KORS) had its price target reduced by Buckingham Research from $85.00 to $74.00 in a research note issued to investors on Wednesday morning. Buckingham Research currently has a buy rating on the lifestyle brand’s stock.

Several other research analysts have also issued reports on KORS. Zacks Investment Research lowered Michael Kors from a hold rating to a sell rating in a research report on Tuesday. Citigroup upgraded Michael Kors from a neutral rating to a buy rating and set a $79.00 price target on the stock in a research report on Wednesday, October 3rd. ValuEngine lowered Michael Kors from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Canaccord Genuity set a $90.00 price target on Michael Kors and gave the stock a buy rating in a research report on Wednesday, September 26th. Finally, Needham & Company LLC reduced their price target on Michael Kors from $79.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company’s stock. Michael Kors has an average rating of Hold and an average target price of $75.52.

Shares of NYSE KORS traded down $2.16 during midday trading on Wednesday, hitting $58.06. The stock had a trading volume of 2,745,006 shares, compared to its average volume of 2,557,989. The stock has a market capitalization of $8.99 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.90 and a beta of 0.12. Michael Kors has a fifty-two week low of $47.49 and a fifty-two week high of $75.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.63 and a current ratio of 1.37.

Michael Kors (NYSE:KORS) last released its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.37. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Michael Kors had a return on equity of 39.01% and a net margin of 13.14%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. Equities research analysts forecast that Michael Kors will post 5.02 earnings per share for the current fiscal year.

In other Michael Kors news, CEO John D. Idol sold 150,000 shares of Michael Kors stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $72.99, for a total transaction of $10,948,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael David Kors sold 179,920 shares of Michael Kors stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total value of $13,245,710.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 846,436 shares of company stock worth $60,640,959. Corporate insiders own 6.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Michael Kors by 27.6% in the first quarter. Commonwealth Equity Services LLC now owns 8,947 shares of the lifestyle brand’s stock valued at $555,000 after purchasing an additional 1,933 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Michael Kors by 1,220.6% in the first quarter. Allianz Asset Management GmbH now owns 75,712 shares of the lifestyle brand’s stock valued at $4,700,000 after purchasing an additional 69,979 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Michael Kors by 5.7% in the first quarter. The Manufacturers Life Insurance Company now owns 167,997 shares of the lifestyle brand’s stock valued at $10,430,000 after purchasing an additional 9,096 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Michael Kors by 65.6% in the first quarter. LPL Financial LLC now owns 8,038 shares of the lifestyle brand’s stock valued at $499,000 after purchasing an additional 3,185 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Michael Kors by 1,251.5% in the first quarter. Assetmark Inc. now owns 7,352 shares of the lifestyle brand’s stock valued at $456,000 after purchasing an additional 6,808 shares in the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Michael Kors Company Profile

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.

Featured Article: How to Profit and Limit Losses With Stop Orders

Analyst Recommendations for Michael Kors (NYSE:KORS)

Receive News & Ratings for Michael Kors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Michael Kors and related companies with MarketBeat.com's FREE daily email newsletter.