November 28, 2016 - By Marguerite Chambers · 0 Comments
Michael Kors Holdings LTD (NYSE:KORS) institutional sentiment decreased to 0.72 in Q2 2016. Its down -0.28, from 1 in 2016Q1. The ratio dived, as 203 institutional investors increased or started new holdings, while 203 trimmed and sold stakes in Michael Kors Holdings LTD. The institutional investors in our partner’s database now hold: 154.37 million shares, up from 144.66 million shares in 2016Q1. Also, the number of institutional investors holding Michael Kors Holdings LTD in their top 10 holdings was flat from 6 to 6 for the same number . Sold All: 61 Reduced: 142 Increased: 155 New Position: 48.
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 has a market cap of $8.09 billion. The Firm operates through three divisions: retail, wholesale and licensing. It has a 11.22 P/E ratio. The Retail activities consist of collection stores and lifestyle stores, including concessions and outlet stores, located primarily in the Americas , Europe and Asia, as well as e-commerce.
The stock increased 0.66% or $0.32 on November 25, hitting $48.91. Michael Kors Holdings Ltd (NYSE:KORS) has declined 5.65% since April 25, 2016 and is downtrending. It has underperformed by 11.67% the S&P500.
Analysts await Michael Kors Holdings Ltd (NYSE:KORS) to report earnings on February, 7. They expect $1.62 earnings per share, up 1.89% or $0.03 from last year’s $1.59 per share. KORS’s profit will be $267.96 million for 7.55 P/E if the $1.62 EPS becomes a reality. After $0.95 actual earnings per share reported by Michael Kors Holdings Ltd for the previous quarter, Wall Street now forecasts 70.53% EPS growth.
According to Zacks Investment Research, “Michael Kors is a global accessories, footwear and apparel company. They offer two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. They also offer select footwear and outerwear through their KORS Michael Kors accessible luxury collection. They operate their business in three segments-retail, wholesale and licensing-and have a global distribution network focused on company-operated retail stores, leading department stores, specialty stores and select licensing partners.”
Arga Investment Management Lp holds 13.87% of its portfolio in Michael Kors Holdings Ltd for 898,400 shares. Flossbach Von Storch Ag owns 9.16 million shares or 7.78% of their US portfolio. Moreover, Wilsey Asset Management Inc has 5.29% invested in the company for 149,365 shares. The New York-based Greenlight Capital Inc has invested 4.39% in the stock. Fort L.P., a Maryland-based fund reported 203,052 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 5 sales for $5.77 million net activity.
Ratings analysis reveals 20% of Michael Kors Holdings Ltd’s analysts are positive. Out of 20 Wall Street analysts rating Michael Kors Holdings Ltd, 4 give it “Buy”, 1 “Sell” rating, while 15 recommend “Hold”. The lowest target is $37 while the high is $65. The stock’s average target of $48.82 is -0.18% below today’s ($48.91) share price. KORS was included in 42 notes of analysts from July 21, 2015. BB&T Capital initiated the stock with “Hold” rating in Thursday, July 30 report. The rating was maintained by RBC Capital Markets on Wednesday, February 3 with “Sector Perform”. The company was downgraded on Friday, July 24 by Buckingham Research. Oppenheimer maintained Michael Kors Holdings Ltd (NYSE:KORS) on Monday, August 10 with “Perform” rating. The firm has “Neutral” rating given on Monday, August 3 by Piper Jaffray. Mizuho maintained Michael Kors Holdings Ltd (NYSE:KORS) on Friday, January 22 with “Neutral” rating. Citigroup initiated Michael Kors Holdings Ltd (NYSE:KORS) rating on Wednesday, October 7. Citigroup has “Sell” rating and $38 price target. The rating was initiated by CLSA with “Sell” on Thursday, September 29. Mizuho maintained Michael Kors Holdings Ltd (NYSE:KORS) rating on Friday, October 23. Mizuho has “Neutral” rating and $42 price target. On Sunday, August 9 the stock rating was downgraded by Piper Jaffray to “Underweight”.
More news for Michael Kors Holdings Ltd (NYSE:KORS) were recently published by: Marketwatch.com, which released: “Michael Kors’ earnings beat masks its struggle with weak traffic” on November 11, 2016. Marketwatch.com‘s article titled: “Michael Kors earnings: What to watch” and published on November 08, 2016 is yet another important article.
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By Marguerite Chambers