Michael Kors Holdings Limited (NYSE:KORS)‘s stock had its “market perform” rating reissued by analysts at Cowen and Company in a note issued to investors on Thursday. They currently have a $45.00 target price on the lifestyle brand’s stock, up from their prior target price of $35.00. Cowen and Company’s price objective points to a potential downside of 1.70% from the company’s previous close.

KORS has been the subject of several other reports. Deutsche Bank AG lowered Michael Kors Holdings Limited from a “buy” rating to a “hold” rating and lowered their target price for the stock from $47.00 to $40.00 in a research report on Monday, May 15th. Jefferies Group LLC set a $65.00 price target on Michael Kors Holdings Limited and gave the stock a “buy” rating in a report on Friday, May 19th. Canaccord Genuity reiterated a “hold” rating and set a $33.00 price target (down from $38.00) on shares of Michael Kors Holdings Limited in a report on Thursday, June 1st. Credit Suisse Group reiterated a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Michael Kors Holdings Limited in a report on Wednesday, May 24th. Finally, BMO Capital Markets set a $38.00 price target on Michael Kors Holdings Limited and gave the stock a “hold” rating in a report on Tuesday, April 18th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.26.

Michael Kors Holdings Limited (KORS) opened at 45.78 on Thursday. The firm has a 50-day moving average price of $35.18 and a 200 day moving average price of $37.09. The company has a market cap of $7.13 billion, a P/E ratio of 13.91 and a beta of 0.10. Michael Kors Holdings Limited has a 12 month low of $32.38 and a 12 month high of $52.67.

Michael Kors Holdings Limited (NYSE:KORS) last announced its earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The business had revenue of $952.40 million during the quarter, compared to analyst estimates of $919.18 million. Michael Kors Holdings Limited had a return on equity of 41.00% and a net margin of 12.38%. Michael Kors Holdings Limited’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. On average, equities analysts expect that Michael Kors Holdings Limited will post $3.64 earnings per share for the current year.

Michael Kors Holdings Limited declared that its board has initiated a share repurchase plan on Wednesday, May 31st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the lifestyle brand to buy up to 18.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This article was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright law. The original version of this article can be viewed at https://www.watchlistnews.com/michael-kors-holdings-limited-kors-rating-reiterated-by-cowen-and-company/1467388.html.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Michael Kors Holdings Limited by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,619,469 shares of the lifestyle brand’s stock valued at $633,368,000 after buying an additional 284,826 shares in the last quarter. BlackRock Inc. boosted its position in Michael Kors Holdings Limited by 3,587.4% in the first quarter. BlackRock Inc. now owns 13,985,812 shares of the lifestyle brand’s stock valued at $532,997,000 after buying an additional 13,606,521 shares in the last quarter. Flossbach Von Storch AG boosted its position in Michael Kors Holdings Limited by 12.9% in the second quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock valued at $434,004,000 after buying an additional 1,366,038 shares in the last quarter. State Street Corp boosted its position in Michael Kors Holdings Limited by 3.9% in the first quarter. State Street Corp now owns 8,681,138 shares of the lifestyle brand’s stock valued at $330,838,000 after buying an additional 325,525 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in Michael Kors Holdings Limited by 14.9% in the first quarter. APG Asset Management N.V. now owns 4,430,974 shares of the lifestyle brand’s stock valued at $168,864,000 after buying an additional 573,062 shares in the last quarter. 84.89% of the stock is currently 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.

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

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