Michael Kors Holdings Ltd Gets Approval For Additional $500M Repurchase
Michael Kors Holdings Limited is a worldwide luxury lifestyle brand company. The Company operates its business in three sections specifically Wholesale, Retail and Licensing. It’s global supply network of company-operated retail stores, department stores, specialty stores and select licensing partners. It provides both sets through its retail and wholesale segments. As of March 30, 2013, its wholesale segment included wholesale sales through approximately 2,215 department store and specialty store doors in North America and wholesale sales through approximately 1,034 department store and specialty store doors internationally.
Michael Kors Holdings (NASDAQ:KORS)’s stock had its “underweight” rating restated by equities researchers at Piper Jaffray in a report released on Wednesday, MarketBeat reports. The company Insiders own 5% of Michael Kors Holdings Limited shares according to the proxy statements. The 50-Day Moving Average price is $41.67 and the 200 Day Moving Average price is recorded at $47.12. Recent trading put Michael Kors Holdings Limited stock at a -2.57 change from the 50 day moving average, which is -6.19%. On Nov 3, 2014, the shares registered one year high at $79.06 and the one-year low was seen on Aug 24, 2015.
Michael Kors will report its fiscal 2016 second quarter earnings results on Wednesday before the market open. The New York-based fund Sab Capital Management Lp revealed it had acquired a stake worth about 4.82% of the active investment manager’s stock portfolio in Michael Kors Holdings Ltd. The California-based fund Apex Capital Llc is also positive about the stock, possessing 1.14 million shares or 4.65% of their long stock exposure.
Additionally, Michael Kors Holdings Limited Now has a market capitalization of 7.51B. Earnings per share were 4.25. Among the 7 analysts who were surveyed, the consensus expectation for quarterly sales had been 942.994.
Shares of Michael Kors closed Tuesday up 0.9% at $39.32, with a consensus analyst price target of $51 and a 52-week trading range of $36.63 to $78.55. Also, because of different data sources, our reporting and figures may be different then the numbers reported by FactSet and other sources.
The overall rating for the company is 2.72. (MRK) of the Healthcare sector is up 0.48% trading at a volume of 737532 shares.
Despite today’s rally, the shares are down 42% in 2015, compared to a 2.5% gain by the S&P 500.