Michael Kors 1Q results top Street even as sales weaken

A Michael Kors Holdings Limited retail store is shown in La Jolla California U.S
A Michael Kors Holdings Limited retail store is shown in La Jolla California U.S
Author

08 August, 2017

Michael Kors Holdings Ltd had 69 analyst reports since July 21, 2015 according to SRatingsIntel. 41 funds opened positions while 121 raised stakes. During the same quarter previous year, the company earned $0.98 EPS. Kynikos Associate Limited Partnership holds 33,813 shares or 0.93% of its portfolio. Moreover, South Dakota Inv Council has 0.07% invested in Michael Kors Holdings Ltd (NYSE:KORS). Mariner Wealth Limited Liability Corporation invested in 361,458 shares. Fjarde Ap invested in 0.04% or 36,774 shares. Piper Jaffray maintained Michael Kors Holdings Ltd (NYSE:KORS) rating on Tuesday, May 30. 19,277 are held by Cap Advisers Ltd Llc. Metropolitan Life New York owns 22,833 shares. Oxford Asset Mngmt owns 85,985 shares or 0.23% of their U.S. portfolio. Calvert Management Inc invested in 10,117 shares. Daiwa Group Inc Inc reported 42,650 shares. Pinebridge L P reported 15,238 shares. Kbc Nv invested 0.09% of its portfolio in Michael Kors Holdings Ltd (NYSE:KORS). Maverick Cap Limited invested 0.01% in Michael Kors Holdings Ltd (NYSE:KORS). Deutsche Bank AG lowered shares of Michael Kors Holdings Limited from a "buy" rating to a "hold" rating and cut their price target for the stock from $47.00 to $40.00 in a research note on Monday, May 15th. Therefore 14% are positive.

"These come off the back of a 7.4% decline in the prior year and, in our view, provide the clearest indication that Michael Kors has not yet re-established itself as a go-to luxury brand", Saunders said in comments emailed to Retail Dive. The firm has "Strong Buy" rating by Needham given on Friday, July 24. The results drove the stock up as much as 14 percent in early trading. PiperJaffray downgraded it to "Neutral" rating and $48 target in Tuesday, January 3 report. The company was maintained on Thursday, August 11 by Goldman Sachs. Piper Jaffray has "Hold" rating and $3400 target. The firm has "Market Perform" rating by Cowen & Co given on Monday, October 26. The stock of Michael Kors Holdings Ltd (NYSE:KORS) earned "Buy" rating by Jefferies on Thursday, June 1. Maryland-based Sandy Spring Bancorp has invested 0.02% in Michael Kors Holdings Ltd (NYSE:KORS).

Since February 9, 2017, it had 0 buys, and 5 insider sales for $2.06 million activity. The fund owned 127,760 shares of the lifestyle brand's stock after selling 57,511 shares during the period.

Investors sentiment decreased to 1.32 in Q4 2016. Its down 0.11, from 1.33 in 2016Q3. It increased, as 60 investors sold KORS shares while 163 reduced holdings. 18 funds opened positions while 36 raised stakes. Lsv Asset Management accumulated 0.03% or 326,300 shares. Pinnacle Assoc holds 9,147 shares. Next Fincl Grp Incorporated has 115 shares for 0% of their portfolio. Next Century Growth Investors Llc has 0.38% invested in Apple Inc. (NASDAQ:AAPL). 13,506 are held by Cls Ltd. Fieldpoint Private Advsr holds 35,320 shares. Forward Limited has 335,085 shares for 0.49% of their portfolio. Ameritas Inc has invested 1.97% in Apple Inc. Highstar Capital IV - L.P. also sold $2.74M worth of NGL Energy Partners LP (NYSE:NGL) on Wednesday, May 31. 994,860 were reported by Morgan Stanley. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company. Therefore 50% are positive. Eca Marcellus Trust I had 3 analyst reports since August 28, 2015 according to SRatingsIntel. The rating was maintained by Oppenheimer on Tuesday, July 25 with "Hold". The company has market cap of $5.80 billion. On Tuesday, September 29 the stock rating was initiated by Sterne Agee CRT with "Buy". UBS maintained the stock with "Buy" rating in Friday, August 4 report.

The stock increased 2.55% or $0.25 on August 4, reaching $10.05. Wedbush maintained the stock with "Neutral" rating in Thursday, August 11 report. As per Friday, August 4, the company rating was maintained by RBC Capital Markets. The Firm provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries. It operates through two divisions: Mortgage Production and Mortgage Servicing.

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