Michael Kors Holdings Ltd (NYSE:KORS) Insider Sells $13,245,710.40 in Stock

Michael Kors Holdings Ltd (NYSE:KORS) insider Michael David Kors sold 179,920 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $73.62, for a total transaction of $13,245,710.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Michael David Kors also recently made the following trade(s):

  • On Tuesday, October 9th, Michael David Kors sold 179,920 shares of Michael Kors stock. The shares were sold at an average price of $67.74, for a total transaction of $12,187,780.80.
  • On Wednesday, August 15th, Michael David Kors sold 179,920 shares of Michael Kors stock. The shares were sold at an average price of $71.35, for a total transaction of $12,837,292.00.

NYSE:KORS traded up $1.65 during trading hours on Friday, reaching $63.61. The company had a trading volume of 1,978,582 shares, compared to its average volume of 2,345,681. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.27. Michael Kors Holdings Ltd has a 52 week low of $47.21 and a 52 week high of $75.96. The company has a market cap of $10.24 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.16 and a beta of 0.12.

Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.37. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.14 billion. Michael Kors had a net margin of 13.14% and a return on equity of 39.01%. The firm’s revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Research analysts forecast that Michael Kors Holdings Ltd will post 5.02 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Nelson Roberts Investment Advisors LLC boosted its stake in shares of Michael Kors by 2.0% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 77,121 shares of the lifestyle brand’s stock worth $5,287,000 after acquiring an additional 1,500 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Michael Kors during the 3rd quarter valued at $169,000. Atria Investments LLC lifted its stake in shares of Michael Kors by 86.5% during the 3rd quarter. Atria Investments LLC now owns 8,907 shares of the lifestyle brand’s stock valued at $611,000 after buying an additional 4,130 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Michael Kors during the 3rd quarter valued at $358,000. Finally, Fulton Bank N.A. lifted its stake in shares of Michael Kors by 7.9% during the 3rd quarter. Fulton Bank N.A. now owns 12,588 shares of the lifestyle brand’s stock valued at $863,000 after buying an additional 918 shares in the last quarter. Institutional investors and hedge funds own 86.61% of the company’s stock.

KORS has been the subject of several analyst reports. UBS Group initiated coverage on shares of Michael Kors in a research report on Thursday, June 21st. They set a “neutral” rating and a $70.00 price target for the company. Goldman Sachs Group initiated coverage on shares of Michael Kors in a research report on Monday, June 25th. They set a “neutral” rating and a $72.00 price target for the company. HSBC initiated coverage on shares of Michael Kors in a research report on Monday, July 9th. They set a “buy” rating and a $88.00 price target for the company. Canaccord Genuity reissued a “buy” rating and set a $84.00 price target on shares of Michael Kors in a research report on Wednesday, August 8th. Finally, Jefferies Financial Group raised their price target on shares of Michael Kors from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Eighteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $75.93.

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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