Mizuho issues “Neutral” Rating on Michael Kors Holdings Ltd (KORS)

Michael Kors Holdings Ltd (KORS) was Reiterated by Mizuho to “Neutral” while Lowering the Price Target of the company shares to $ 38 from a previous price target of $50 . Mizuho advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Michael Kors Holdings Ltd reported $1.64 EPS for the quarter, based on the information available during the earnings call on Feb 7, 2017. Analyst had a consensus estimate of $1.64. The company had revenue of $1352.80 million for the quarter, compared to analysts expectations of $1370.15 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.59 EPS.

Several company insiders have filed Insider transactions , on Dec 8, 2016, Joseph B. Parsons (EVP, CFO, COO & Treasurer) sold 130,000 shares at $48.32 per share price. According to the SEC, on Dec 6, 2016, Krista A Mcdonough (SVP, General Counsel) sold 5,156 shares at $47.99 per share price. On Oct 4, 2016, Pascale Meyran (SVP, Chief HR Officer) sold 1,936 shares at $49.30 per share price, according to the Form-4 filing with the securities and exchange commission.

Michael Kors Holdings Ltd opened for trading at $38.48 and hit $38.91 on the upside on Friday, eventually ending the session at $38.38, with a gain of 0.29% or 0.11 points. The heightened volatility saw the trading volume jump to 39,58,591 shares. Company has a market cap of $6,234 M.

Michael Kors Holdings Limited is a global accessories footwear and apparel company. The Company operates its business in three segments: retail wholesale and licensing. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. In the Michael Kors collection it offers accessories including handbags and small leather goods many of which are made from leathers and other exotic skins footwear and apparel including ready-to-wear women swear and menswear. Its MICHAEL Michael Kors collection offers accessories primarily handbags and small leather goods such as clutches wallets wristlets and cosmetic cases; footwear primarily in women’s styles; and women swear including dresses tops jeans pants skirts shorts and outerwear. Through its licensing segment it enters into agreements that license to third parties use of its brand name and trademarks certain production and sales and distribution rights.

Michael Kors Holdings Ltd

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