Michael Kors Holdings Limited (NYSE:KORS) Director M William Benedetto sold 2,000 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the completion of the sale, the director now owns 18,662 shares in the company, valued at approximately $1,000,283.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Kors Holdings Limited (NYSE:KORS) opened at $54.09 on Tuesday. The company has a market cap of $8,319.57, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.05. Michael Kors Holdings Limited has a fifty-two week low of $32.38 and a fifty-two week high of $55.25.

Michael Kors Holdings Limited (NYSE:KORS) last announced its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors Holdings Limited had a net margin of 12.68% and a return on equity of 42.09%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. equities analysts expect that Michael Kors Holdings Limited will post 3.96 EPS for the current fiscal year.

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Several research firms have commented on KORS. TheStreet raised shares of Michael Kors Holdings Limited from a “c+” rating to a “b” rating in a research note on Monday, November 6th. Nomura lifted their price objective on shares of Michael Kors Holdings Limited from $41.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, August 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Michael Kors Holdings Limited in a research note on Thursday, September 14th. Finally, Canaccord Genuity raised shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $58.00 in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Michael Kors Holdings Limited has an average rating of “Hold” and a consensus price target of $49.84.

Institutional investors and hedge funds have recently bought and sold shares of the company. Balasa Dinverno & Foltz LLC increased its holdings in shares of Michael Kors Holdings Limited by 19.3% during the third quarter. Balasa Dinverno & Foltz LLC now owns 8,677 shares of the lifestyle brand’s stock valued at $415,000 after acquiring an additional 1,404 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Michael Kors Holdings Limited by 17.4% during the second quarter. Schroder Investment Management Group now owns 2,410,156 shares of the lifestyle brand’s stock valued at $86,042,000 after acquiring an additional 357,661 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Michael Kors Holdings Limited by 5.1% during the second quarter. Legal & General Group Plc now owns 818,344 shares of the lifestyle brand’s stock valued at $29,663,000 after acquiring an additional 39,949 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Michael Kors Holdings Limited by 9,030.5% during the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock valued at $9,102,000 after acquiring an additional 248,340 shares in the last quarter. Finally, ARGA Investment Management LP increased its holdings in shares of Michael Kors Holdings Limited by 6.1% during the second quarter. ARGA Investment Management LP now owns 1,410,252 shares of the lifestyle brand’s stock valued at $51,121,000 after acquiring an additional 81,000 shares in the last quarter. Hedge funds and other institutional investors own 85.21% 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.

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