Michael Kors to close 100-125 stores
- Author: Zachary Reyes May 31, 2017,
May 31, 2017, 20:48
It declined 15 percent in the past 12 months. It has outperformed by 51.23% the S&P500. Municipal Employees Retirement System of MI boosted its position in Michael Kors Holdings by 0.4% in the third quarter.
In fairness, KORS' guidance during the third quarter had indicated that the struggles would continue and the company telegraphed the non-cash impairment charges. It is down 10.54% since May 30, 2016 and is downtrending.
The stock increased 7.28% or $0.23 on May 26, reaching $3.39. About shares traded. UDR, Inc.
Michael Kors Holdings (NYSE:KORS) last released its earnings results on Wednesday, May 31st.
Investors sentiment increased to 1.14 in 2016 Q4. Its down 0.63, from 1.56 in 2016Q3. It increased, as 22 investors sold OCN shares while 36 reduced holdings. Blackrock Advisors Limited owns 2.32M shares for 0.1% of their portfolio. Stifel Fin invested in 0% or 10,057 shares. Hudson Bay Capital Lp invested in 0.03% or 38,100 shares. Keybank Natl Association Oh has 15,149 shares for 0% of their portfolio. Paradice Investment Management Llc owns 2.61 million shares or 0.48% of their USA portfolio. Commercial Bank Of Nova Scotia reported 41,529 shares. Invesco owns 8.24 million shares or 0.12% of their U.S. portfolio. Virginia Retirement Et Al holds 353,400 shares or 0.21% of its portfolio. Tradition Cap Management Ltd stated it has 10,000 shares. Moreover, Marathon Asset Limited Partnership has 1.87% invested in Ocwen Financial Corp (NYSE:OCN). Total revenue was down more than 11% to $1.20 billion, but that was slightly better than the almost 13% decline that investors were expecting to see. Jefferies Group LLC set a $65.00 target price on shares of Michael Kors Holdings and gave the company a "buy" rating in a research report on Tuesday, February 7th. Therefore 57% are positive.
In terms of the outlook for the fiscal first quarter, the company expects EPS in the range of $0.60 to $0.64 and revenues between $910 million and $930 million. The firm earned "Overweight" rating on Friday, August 19 by Piper Jaffray. As per Tuesday, October 27, the company rating was upgraded by Credit Suisse. On Friday, October 23 the stock rating was maintained by Mizuho with "Neutral". Citigroup has "Neutral" rating and $55 target. The firm earned "Hold" rating on Thursday, July 30 by BB&T Capital. The 1-year low was reported on May, 31 by Barchart.com. The firm has "Neutral" rating given on Thursday, April 28 by Compass Point. Vanguard Index Fds (VOO) was raised too.
Toronto-Dominion Bank (TSE:TD) has 0.00% since May 29, 2016 and is. It is positive, as 31 investors sold UDR, Inc. shares while 107 reduced holdings.
Michael Kors Holdings Limited (NYSE:KORS)'s market cap, the total dollar value of all of their outstanding shares, is 5871.02m. Cubist Systematic Strategies Ltd Limited Liability Company owns 0.09% invested in Michael Kors Holdings Ltd (NYSE:KORS) for 25,183 shares.
TRADEMARK VIOLATION WARNING: "Michael Kors Holdings Ltd (KORS) Announces Earnings Results" was first reported by Markets Daily and is owned by of Markets Daily. Michael Kors Holdings also was the recipient of unusually large options trading activity on Tuesday. Banque Pictet & Cie accumulated 9,120 shares. Bessemer Group Inc owns 38 shares or 0% of their USA portfolio. Cowen and Company decreased their price target on Michael Kors Holdings to $40.00 in a research note on Wednesday, February 8th. Royal Bancshares Of Canada reported 590,702 shares stake.
Michael Kors Holdings Ltd (KORS) opened at 36.27 on Wednesday. (NASDAQ:ISBC). Clinton Grp holds 0.01% in Investors Bancorp, Inc.
Several hedge funds have recently modified their holdings of KORS. 235.73 million shares or 2.04% less from 240.63 million shares in 2016Q3 were reported.