Michael Kors Sees Unusually Large Options Volume (NYSE:KORS)

Michael Kors Holdings Ltd (NYSE:KORS) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 11,443 put options on the company. This is an increase of 1,336% compared to the average volume of 797 put options.

Several equities analysts have recently weighed in on KORS shares. Deutsche Bank raised Michael Kors from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.20 to $86.00 in a research note on Monday, April 23rd. Zacks Investment Research raised Michael Kors from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, April 24th. Credit Suisse Group started coverage on Michael Kors in a research note on Monday, March 12th. They issued an “outperform” rating and a $75.00 price objective on the stock. ValuEngine lowered Michael Kors from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Morgan Stanley lifted their price objective on Michael Kors from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, May 31st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $68.89.

KORS stock opened at $65.85 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.33. Michael Kors has a 52-week low of $32.81 and a 52-week high of $70.00. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.17 and a beta of 0.08.



Michael Kors (NYSE:KORS) last posted its quarterly earnings data on Wednesday, May 30th. The lifestyle brand reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Michael Kors had a return on equity of 37.39% and a net margin of 12.54%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.73 EPS. Michael Kors’s revenue for the quarter was up 10.8% compared to the same quarter last year. equities analysts forecast that Michael Kors will post 4.72 EPS for the current fiscal year.

In other Michael Kors news, SVP Cathy Marie Robinson sold 6,097 shares of the firm’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $63.58, for a total value of $387,647.26. Following the sale, the senior vice president now directly owns 24,936 shares of the company’s stock, valued at approximately $1,585,430.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John D. Idol sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $68.33, for a total value of $10,249,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 618,197 shares of company stock worth $41,026,754. 6.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dupont Capital Management Corp increased its holdings in shares of Michael Kors by 8.7% in the 4th quarter. Dupont Capital Management Corp now owns 124,314 shares of the lifestyle brand’s stock valued at $7,826,000 after acquiring an additional 9,968 shares during the last quarter. Suntrust Banks Inc. bought a new stake in shares of Michael Kors in the 4th quarter valued at approximately $295,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Michael Kors by 102.6% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,940 shares of the lifestyle brand’s stock valued at $500,000 after acquiring an additional 4,020 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Michael Kors by 1,067.3% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,977 shares of the lifestyle brand’s stock valued at $943,000 after acquiring an additional 13,694 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in shares of Michael Kors in the 4th quarter valued at approximately $360,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Michael Kors Company Profile

Michael Kors Holdings Limited design, markets, distributes, and retails branded women's apparel and accessories, and men's apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women's apparel; men's apparel; accessories, which include handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances, beauty products, and eyewear.

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