Stock Worth Mentioning: What’s Next for Michael Kors Holdings Ltd After Today’s Big Increase?

Stock Worth Mentioning: What's Next for Michael Kors Holdings Ltd After Today's Big Increase?

The stock of Michael Kors Holdings Ltd (NYSE:KORS) is a huge mover today! About 3.49 million shares traded hands or 48.51% up from the average. Michael Kors Holdings Ltd (NYSE:KORS) has declined 15.23% since March 16, 2016 and is downtrending. It has underperformed by 20.78% the S&P500.
The move comes after 8 months positive chart setup for the $8.58 billion company. It was reported on Oct, 19 by Barchart.com. We have $76.62 PT which if reached, will make NYSE:KORS worth $4.63B more.

Analysts await Michael Kors Holdings Ltd (NYSE:KORS) to report earnings on November, 2. They expect $0.88 EPS, down 12.87% or $0.13 from last year’s $1.01 per share. KORS’s profit will be $151.91 million for 14.14 P/E if the $0.88 EPS becomes a reality. After $0.88 actual EPS 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 “Buy” rating given on Friday, August 7 by BB&T Capital. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned “Underweight” rating by Piper Jaffray on Friday, August 7. The firm earned “Sell” rating on Thursday, September 29 by CLSA. Wolfe Research initiated Michael Kors Holdings Ltd (NYSE:KORS) on Tuesday, August 18 with “Peer Perform” rating. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned “Underweight” rating by Piper Jaffray on Sunday, August 9. Telsey Advisory Group maintained the stock with “Market Perform” rating in Wednesday, February 3 report. The stock of Michael Kors Holdings Ltd (NYSE:KORS) has “Neutral” rating given on Thursday, August 11 by Goldman Sachs. Piper Jaffray maintained the stock with “Neutral” rating in Monday, August 3 report. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned “Hold” rating by Canaccord Genuity on Thursday, May 12. The stock of Michael Kors Holdings Ltd (NYSE:KORS) has “Neutral” rating given on Friday, July 24 by Buckingham Research.

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 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.
Blackrock Institutional Trust Na last reported 0.04% of its portfolio in the stock. Bank Of America De has 0.01% invested in the company for 497,907 shares. Natixis accumulated 35,565 shares or 0.03% of the stock. Global X Mgmt Communications Ltd Co holds 3,668 shares or 0.01% of its portfolio. Moreover, Massachusetts Financial Serv Ma has 0.06% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 2.34 million shares. Moreover, Tcw Gp has 0.01% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 33,763 shares. The Florida-based State Board Of Administration Of Florida Retirement Sys has invested 0.04% in Michael Kors Holdings Ltd (NYSE:KORS). Oppenheimer & Inc last reported 7,200 shares in the company. Euclid Advsrs Ltd Liability Com holds 0.01% or 3,060 shares in its portfolio. Asset Mgmt has 0% invested in the company for 2,042 shares. Sumitomo Mitsui Asset Mngmt Co reported 16,629 shares or 0.02% of all its holdings. Norinchukin National Bank & Trust The last reported 94,939 shares in the company. Tributary Capital Mgmt Ltd Co, a Colorado-based fund reported 36,900 shares. State Treasurer State Of Michigan holds 103,300 shares or 0.04% of its portfolio. Central Commercial Bank And Trust holds 100 shares or 0% of its portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 5 insider sales for $5.77 million net activity. 76,000 shares were sold by Sporn Lee S., worth $3.84 million on Wednesday, June 8. Robinson Cathy Marie sold $37,869 worth of Michael Kors Holdings Ltd (NYSE:KORS) on Wednesday, June 15.

Another recent and important Michael Kors Holdings Ltd (NYSE:KORS) news was published by Schaeffersresearch.com which published an article titled: “M&A Buzz Boosts Michael Kors Holdings Ltd (KORS) Options Demand” on October 18, 2016.

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