What Next for Michael Kors Holdings Ltd Stock After Today’s Bullish Options Activity?


 What Next for Michael Kors Holdings Ltd Stock After Today's Bullish Options Activity?

In today’s session Michael Kors Holdings Ltd (KORS) registered an unusually high (100) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious KORS increase. With 100 contracts traded and 22954 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: KORS161118C00055000 closed last at: $0.35 or 12.5% down. About 647,345 shares traded hands. Michael Kors Holdings Ltd (NYSE:KORS) has declined 18.14% since March 2, 2016 and is downtrending. It has underperformed by 26.39% the S&P500.

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 $151.62M for 13.45 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 stock has “Hold” rating given by Canaccord Genuity on Thursday, November 5. Wells Fargo reinitiated the stock with “Market Perform” rating in Thursday, October 22 report. The company was maintained on Wednesday, February 3 by Telsey Advisory Group. The firm earned “Sector Perform” rating on Wednesday, February 3 by RBC Capital Markets. As per Wednesday, March 9, the company rating was initiated by Jyske Bank. The firm has “Buy” rating given on Friday, August 7 by BB&T Capital. The company was maintained on Monday, August 10 by Oppenheimer. The company was downgraded on Sunday, August 9 by Piper Jaffray. The stock of Michael Kors Holdings Ltd (NYSE:KORS) has “Hold” rating given on Thursday, May 12 by Canaccord Genuity. The rating was upgraded by Citigroup to “Neutral” on Wednesday, February 3.

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 2016 Q2. Its up 0.11, from 0.89 in 2016Q1. The ratio is positive, 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.
Moreover, First Mercantile Trust has 0.08% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 12,930 shares. Products Prtnrs Ltd Limited Liability Company has 0.61% invested in the company for 155,300 shares. Farmers Tru Co, a Ohio-based fund reported 67,125 shares. Archford Capital Strategies Limited Liability Corp has invested 0% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Etrade Management Limited Liability has 0.06% invested in the company for 21,041 shares. Cibc Asset Management holds 0.01% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS) for 15,113 shares. Moreover, Tokio Marine Asset Management Ltd has 0.03% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 6,364 shares. State Of Tennessee Treasury Department has 0.1% invested in the company for 391,304 shares. Norinchukin Savings Bank The holds 94,939 shares or 0.11% of its portfolio. Da Davidson accumulated 0% or 85 shares. Pax World Mgmt Ltd Liability has 11,621 shares for 0.03% of their US portfolio. Thompson Investment Management Inc owns 7,625 shares or 0.08% of their US portfolio. American Registered Advisor has invested 0.1% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Sandy Spring State Bank has 0.03% invested in the company for 4,900 shares. Convergence Invest Partners Llc reported 36,398 shares or 0.25% of all its holdings.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 5 selling transactions for $5.77 million net activity. Shares for $3.84 million were sold by Sporn Lee S. on Wednesday, June 8. Robinson Cathy Marie sold 6,643 shares worth $332,265.

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 $8.16 billion. The Firm operates through three divisions: retail, wholesale and licensing. It has a 10.72 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.

More news for Michael Kors Holdings Ltd (NYSE:KORS) were recently published by: Streetinsider.com, which released: “Form 4 Michael Kors Holdings For: Jun 15 Filed by: Meyran Pascale” on October 04, 2016. Benzinga.com‘s article titled: “Fast Money Traders Share Their Picks In The Consumer Sector” and published on October 03, 2016 is yet another important article.

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