Citigroup Inc. assumed coverage on shares of Michael Kors Holdings Limited (NYSE:KORS) in a research report sent to investors on Thursday morning, The Fly reports. The firm issued a positive rating and a $62.00 price target on the lifestyle brand’s stock.

A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Michael Kors Holdings Limited from a buy rating to a hold rating in a research report on Friday, September 1st. BMO Capital Markets set a $35.00 target price on Michael Kors Holdings Limited and gave the company a hold rating in a research report on Thursday, July 6th. Credit Suisse Group reiterated a hold rating and issued a $43.00 price objective on shares of Michael Kors Holdings Limited in a report on Sunday, September 10th. BidaskClub upgraded Michael Kors Holdings Limited from a strong sell rating to a sell rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $60.00 price objective on shares of Michael Kors Holdings Limited in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Michael Kors Holdings Limited currently has an average rating of Hold and a consensus target price of $46.50.

Michael Kors Holdings Limited (NYSE KORS) traded down $0.31 during trading hours on Thursday, reaching $47.62. The company’s stock had a trading volume of 3,981,771 shares, compared to its average volume of 1,871,988. The company has a market cap of $7,219.72, a PE ratio of 11.56 and a beta of 0.05.

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

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Michael Kors Holdings Limited by 9.3% during the 2nd quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock valued at $554,176,000 after acquiring an additional 1,301,796 shares during the last quarter. Flossbach Von Storch AG raised its stake in Michael Kors Holdings Limited by 12.9% during the 2nd quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock valued at $434,004,000 after acquiring an additional 1,366,038 shares during the last quarter. APG Asset Management N.V. raised its stake in Michael Kors Holdings Limited by 0.5% during the 3rd quarter. APG Asset Management N.V. now owns 4,454,174 shares of the lifestyle brand’s stock valued at $213,132,000 after acquiring an additional 23,200 shares during the last quarter. FMR LLC raised its stake in Michael Kors Holdings Limited by 33.9% during the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after acquiring an additional 1,107,385 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Michael Kors Holdings Limited by 24.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,572,603 shares of the lifestyle brand’s stock valued at $93,256,000 after acquiring an additional 506,071 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

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.

The Fly

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

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