Michael Kors (NYSE:KORS) Upgrade
Michael Kors (NYSE:KORS)’s “Peer Perform” rating is no longer valid. The firm rating was boosted by research analysts at Wolfe Research to “Outperform”. They have a TP of $73.0 on KORS.
According to data compiled by Thomson Reuters, Michael Kors (NYSE:KORS)’s stock is covered by 24 equity analysts across the Street, with 0 analysts giving it a Sell rating, 9 a Buy rating, while 21 consider it a Hold. The 12-month consensus target price for the stock is $56.5, which reflects an upside potential of 0.37% over the current price.
Arga Investment Management Lp had the most significant stake with ownership of 901,300 shares as of q2 2015 for 11.55% of the fund’s portfolio. Flossbach Von Storch Ag is another bullish investment professional who is owning 9.29 million shares of Michael Kors or 7.25% of their fund’s portfolio. In addition, Wilsey Asset Management Inc have 5.39% of their fund’s portfolio invested in the company for 149,865 shares. The New York-based fund Greenlight Capital Inc disclosed it had acquired a stake worth about 2.74% of the investment professional’s stock portfolio in Michael Kors. The Illinois-based fund Forester Capital Management Ltd is also positive about the stock, possessing 3.07 million shares or 2.17% of their fund’s portfolio.
Michael Kors (NYSE:KORS) 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. The Retail operations consist of collection stores and lifestyle stores, including concessions and outlet stores, located primarily in the Americas (the United States, Canada and Latin America), Europe and Asia, as well as e-commerce.
Michael Kors (NYSE:KORS) traded up 0.95% on 14 December, hitting $56.29. A total of 1.67 million shares of the company’s stock traded hands. This is down from average of 2.66 million shares. Michael Kors has a 52 week low of $32.38 and a 52 week high of $56.43. The company has a market cap of $8.64 billion and a P/E ratio of 15.68.
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