The stock of Michael Kors Holdings Ltd (NYSE:KORS) is a huge mover today! About 1.36M shares traded hands. Michael Kors Holdings Ltd (NYSE:KORS) has declined 18.20% since March 8, 2016 and is downtrending. It has underperformed by 27.52% the S&P500.
The move comes after 5 months positive chart setup for the $7.68B company. It was reported on Oct, 11 by Barchart.com. We have $59.72 PT which if reached, will make NYSE:KORS worth $2.30B more.
Analysts await Michael Kors Holdings Ltd (NYSE:KORS) to report earnings on November, 2. They expect $0.88 earnings per share, down 12.87% or $0.13 from last year’s $1.01 per share. KORS’s profit will be $147.11M for 13.05 P/E if the $0.88 EPS becomes a reality. After $0.88 actual earnings per share reported by Michael Kors Holdings Ltd for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Michael Kors Holdings Ltd (NYSE:KORS) Ratings Coverage
Out of 19 analysts covering Michael Kors Holdings Ltd (NYSE:KORS), 4 rate it a “Buy”, 1 “Sell”, while 14 “Hold”. This means 21% are positive. Michael Kors Holdings Ltd has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Thursday, August 11 by Goldman Sachs. Jyske Bank initiated the shares of KORS in a report on Wednesday, March 9 with “Buy” rating. On Wednesday, April 27 the stock rating was upgraded by Piper Jaffray to “Overweight”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, February 3. The company was downgraded on Friday, July 24 by Buckingham Research. The company was maintained on Thursday, August 11 by JP Morgan. The stock has “Buy” rating given by BB&T Capital on Friday, August 7. The stock has “Market Perform” rating given by Cowen & Co on Monday, October 26. The firm has “Neutral” rating given on Friday, July 31 by Mizuho. The company was initiated on Friday, September 30 by Guggenheim.
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.”
Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.11, from 0.89 in 2016Q1. The ratio increased, as 61 funds sold all Michael Kors Holdings Ltd shares owned while 142 reduced positions. 48 funds bought stakes while 155 increased positions. They now own 154.37 million shares or 6.71% more from 144.66 million shares in 2016Q1.
Thompson Siegel And Walmsley Ltd Co reported 827,786 shares or 0.65% of all its holdings. Tower Rech Capital Lc (Trc) reported 2,878 shares or 0.01% of all its holdings. Deutsche Bank Ag has invested 0.05% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Amica Pension Fund Board Of Trustees owns 11,280 shares or 0.07% of their US portfolio. Qs Limited Liability Company owns 147,405 shares or 0.06% of their US portfolio. Vanguard Group Inc holds 0.05% or 16.90 million shares in its portfolio. Commonwealth National Bank Of owns 720 shares or 0% of their US portfolio. Northern Trust Corp last reported 0.04% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) holds 22,682 shares or 0.01% of its portfolio. South Dakota Investment Council owns 90,158 shares or 0.1% of their US portfolio. Benjamin F Edwards & Co Incorporated owns 100 shares or 0% of their US portfolio. Moreover, Clear Harbor Asset Ltd has 0.13% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 11,945 shares. Commerzbank Aktiengesellschaft Fi reported 119,579 shares or 0.04% of all its holdings. Teachers Retirement Of The State Of Kentucky, a Kentucky-based fund reported 325,741 shares. Putnam Invests Ltd holds 0.07% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS) for 577,878 shares.
Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 5 sales for $5.77 million net activity. Another trade for 26,341 shares valued at $1.32M was made by Sporn Lee S. on Friday, September 2. Shares for $332,265 were sold by Robinson Cathy Marie.
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