Michael Kors (NYSE:KORS) was downgraded by equities research analysts at UBS Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, November 16th, The Fly reports.

KORS has been the subject of a number of other reports. ValuEngine lowered shares of Michael Kors from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Citigroup raised shares of Michael Kors from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Wednesday, October 3rd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Michael Kors in a research note on Monday, September 24th. Buckingham Research decreased their price target on shares of Michael Kors from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Finally, Needham & Company LLC decreased their price target on shares of Michael Kors from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $73.04.

KORS stock traded down $2.44 during mid-day trading on Friday, reaching $40.48. 3,599,185 shares of the stock traded hands, compared to its average volume of 3,080,336. The company has a quick ratio of 0.71, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. Michael Kors has a one year low of $40.40 and a one year high of $75.96. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 1.38 and a beta of 0.32.

Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.18. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Michael Kors had a net margin of 11.57% and a return on equity of 36.66%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. As a group, equities research analysts expect that Michael Kors will post 5.02 EPS for the current year.

In other news, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $72.99, for a total transaction of $10,948,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael David Kors sold 179,920 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $67.74, for a total transaction of $12,187,780.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 519,516 shares of company stock worth $36,945,527. 6.00% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in KORS. AQR Capital Management LLC lifted its position in shares of Michael Kors by 32.5% during the 3rd quarter. AQR Capital Management LLC now owns 9,155,701 shares of the lifestyle brand’s stock valued at $627,715,000 after buying an additional 2,245,109 shares in the last quarter. Millennium Management LLC lifted its position in shares of Michael Kors by 308.8% during the 2nd quarter. Millennium Management LLC now owns 2,651,631 shares of the lifestyle brand’s stock valued at $176,599,000 after buying an additional 2,003,044 shares in the last quarter. BlackRock Inc. lifted its position in shares of Michael Kors by 12.9% during the 3rd quarter. BlackRock Inc. now owns 12,564,075 shares of the lifestyle brand’s stock valued at $861,392,000 after buying an additional 1,436,136 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Michael Kors by 109.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,763,621 shares of the lifestyle brand’s stock valued at $117,457,000 after buying an additional 923,447 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Michael Kors by 18.4% during the 3rd quarter. FMR LLC now owns 5,373,852 shares of the lifestyle brand’s stock valued at $368,432,000 after buying an additional 835,011 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

About Michael Kors

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.

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Analyst Recommendations for Michael Kors (NYSE:KORS)

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