Bullish Options Activity on Michael Kors Holdings Ltd Surges After Better Fundamentals

 Bullish Options Activity on Michael Kors Holdings Ltd Surges After Better Fundamentals

In today’s session Michael Kors Holdings Ltd (KORS) registered an unusually high (415) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious KORS increase. With 415 contracts traded and 22444 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: KORS161216C00055000 closed last at: $1.25 or 10.7% down. About 3.62 million shares traded hands or 26.57% up from the average. Michael Kors Holdings Ltd (NYSE:KORS) has risen 0.74% since April 11, 2016 and is uptrending. It has underperformed by 5.41% the S&P500.

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. $65 is the highest target while $37 is the lowest. The $48.82 average target is 3.67% above today’s ($47.09) stock price. Michael Kors Holdings Ltd has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Thursday, September 10 by RBC Capital Markets. The firm earned “Underweight” rating on Sunday, August 9 by Piper Jaffray. The rating was maintained by JP Morgan with “Neutral” on Thursday, August 11. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned “Neutral” rating by Mizuho on Friday, October 23. The company was maintained on Friday, July 31 by Mizuho. The firm has “Hold” rating by Canaccord Genuity given on Thursday, May 12. The stock of Michael Kors Holdings Ltd (NYSE:KORS) has “Sell” rating given on Wednesday, October 7 by Citigroup. The stock of Michael Kors Holdings Ltd (NYSE:KORS) has “Neutral” rating given on Friday, January 22 by Mizuho. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned “Neutral” rating by Bank of America on Thursday, October 22. Piper Jaffray upgraded the shares of KORS in a report on Tuesday, January 19 to “Neutral” rating.

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 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.
Sumitomo Mitsui Asset Co holds 0.02% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS) for 16,629 shares. United Serv Automobile Association last reported 143,516 shares in the company. Sfe Counsel, a California-based fund reported 21,290 shares. Commonwealth Bank & Trust Of holds 720 shares or 0% of its portfolio. Northcoast Asset Mngmt Limited Com accumulated 48,073 shares or 0.16% of the stock. Strs Ohio accumulated 29,427 shares or 0.01% of the stock. Pictet Asset Management last reported 0.02% of its portfolio in the stock. Plante Moran Fincl Limited Liability Company reported 475 shares or 0.02% of all its holdings. Qualcomm Inc De holds 0.34% or 50,800 shares in its portfolio. Peak6 Invs Lp accumulated 0.02% or 57,434 shares. Chevy Chase Trust holds 0.04% or 154,084 shares in its portfolio. Advsr Asset Mngmt holds 0% or 2,042 shares in its portfolio. Bowling Portfolio Management Lc holds 108,196 shares or 0.88% of its portfolio. Vanguard Grp Inc Incorporated Inc owns 16.90 million shares or 0.05% of their US portfolio. Tributary Cap Mgmt Ltd Liability Corp accumulated 0.27% or 36,900 shares.

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

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 $8.21 billion. The Firm operates through three divisions: retail, wholesale and licensing. It has a 10.66 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 notable recent Michael Kors Holdings Ltd (NYSE:KORS) news were published by: Investorplace.com which released: “3 Stocks to Watch on Friday: Walt Disney Co (DIS), Michael Kors Holdings Ltd …” on November 11, 2016, also Reuters.com with their article: “BRIEF-Michael Kors Holdings Ltd reports Q2 earnings per share $0.95” published on November 10, 2016, Marketwatch.com published: “Michael Kors shares sink on weak outlook” on November 10, 2016. More interesting news about Michael Kors Holdings Ltd (NYSE:KORS) were released by: Investorplace.com and their article: “How to Trade Michael Kors Holdings Ltd (KORS) Stock Now” published on October 20, 2016 as well as Businesswire.com‘s news article titled: “Michael Kors Appoints Robin Freestone to Board of Directors” with publication date: November 04, 2016.

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