Pascale Meyran Sells 6,835 Shares of Michael Kors Holdings Ltd (KORS) Stock
Michael Kors Holdings Ltd (NYSE:KORS) SVP Pascale Meyran sold 6,835 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.01, for a total value of $410,168.35. Following the completion of the transaction, the senior vice president now directly owns 10,081 shares in the company, valued at $604,960.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Michael Kors Holdings Ltd (NYSE:KORS) traded up $1.86 during trading hours on Monday, hitting $61.81. The stock had a trading volume of 4,034,500 shares, compared to its average volume of 2,514,951. Michael Kors Holdings Ltd has a 52-week low of $32.38 and a 52-week high of $62.10. The firm has a market cap of $9,399.24, a PE ratio of 13.74, a PEG ratio of 2.08 and a beta of 0.12.
Michael Kors (NYSE:KORS) last posted its earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $0.95 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. equities research analysts anticipate that Michael Kors Holdings Ltd will post 3.96 earnings per share for the current year.
KORS has been the topic of several research reports. ValuEngine downgraded Michael Kors from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Credit Suisse Group reaffirmed a “hold” rating and set a $43.00 price target on shares of Michael Kors in a research report on Sunday, September 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $67.00 price target (up from $58.00) on shares of Michael Kors in a research report on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating on shares of Michael Kors in a research report on Friday, November 10th. Finally, Sanford C. Bernstein began coverage on Michael Kors in a research report on Tuesday, September 12th. They set an “underperform” rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Michael Kors has a consensus rating of “Hold” and an average target price of $51.09.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Michael Kors by 9.3% in the 2nd quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock valued at $554,176,000 after buying an additional 1,301,796 shares in the last quarter. FMR LLC lifted its stake in Michael Kors by 33.9% in the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after buying an additional 1,107,385 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in Michael Kors in the 3rd quarter valued at about $37,089,000. PDT Partners LLC lifted its stake in Michael Kors by 590.2% in the 2nd quarter. PDT Partners LLC now owns 639,200 shares of the lifestyle brand’s stock valued at $23,171,000 after buying an additional 546,588 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Michael Kors by 24.5% in 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 buying an additional 506,071 shares in the last quarter. Hedge funds and other institutional investors own 86.59% of the company’s stock.
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Michael Kors Company Profile
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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