Is Michael Kors Holdings Limited (KORS) a Buy? The Stock Formed Bullish Double Top Pattern

May 16, 2018 - By Thomas Roop

Michael Kors Holdings Limited (NYSE:KORS) Logo

Investors sentiment increased to 1.44 in 2017 Q4. Its up 0.50, from 0.94 in 2017Q3. It improved, as 36 investors sold Michael Kors Holdings Limited shares while 112 reduced holdings. 103 funds opened positions while 110 raised stakes. 120.12 million shares or 5.14% less from 126.63 million shares in 2017Q3 were reported.
Bridgewater L P reported 109,951 shares. Art Limited Liability holds 0.27% of its portfolio in Michael Kors Holdings Limited (NYSE:KORS) for 95,800 shares. The New York-based Quinn Opportunity Ptnrs Limited Liability has invested 0.17% in Michael Kors Holdings Limited (NYSE:KORS). Millennium Ltd Liability Com holds 0.01% of its portfolio in Michael Kors Holdings Limited (NYSE:KORS) for 86,163 shares. Kbc Gp Nv, Belgium-based fund reported 188,031 shares. Central Bank & Trust Company has invested 0% in Michael Kors Holdings Limited (NYSE:KORS). Moore Cap Limited Partnership reported 375,000 shares. Thrivent For Lutherans stated it has 0% in Michael Kors Holdings Limited (NYSE:KORS). 236,969 are owned by Amp Capital. Commonwealth Commercial Bank Of Aus holds 0.07% or 119,922 shares in its portfolio. Principal Financial Gru Incorporated holds 487,974 shares. Mutual Of America Mngmt Ltd Liability Corp has invested 0.02% in Michael Kors Holdings Limited (NYSE:KORS). Utah Retirement Sys invested in 26,699 shares or 0.04% of the stock. Exane Derivatives has invested 0.08% of its portfolio in Michael Kors Holdings Limited (NYSE:KORS). Swiss Commercial Bank holds 0.04% or 561,900 shares in its portfolio.

Since February 13, 2018, it had 0 insider buys, and 6 selling transactions for $44.48 million activity. Reitman Stephen F also sold $406,065 worth of Michael Kors Holdings Limited (NYSE:KORS) shares. Kors Michael David had sold 246,590 shares worth $15.12M on Friday, March 2. Benedetto M William sold $255,752 worth of Michael Kors Holdings Limited (NYSE:KORS) on Friday, February 16.

The chart of Michael Kors Holdings Limited (KORS) shows a double top with $70.31 target or 8.00 % above today’s $65.10 share price. The 5 months chart pattern indicates low risk for the $9.91B company. It was reported on May, 16 by Finviz.com. If the $70.31 price target is reached, the company will be worth $792.48M more. Double tops are rare but powerful chart patterns.

The stock increased 1.01% or $0.65 during the last trading session, reaching $65.1. About 1.10M shares traded. Michael Kors Holdings Limited (NYSE:KORS) has risen 62.72% since May 16, 2017 and is uptrending. It has outperformed by 51.17% the S&P500.

Analysts await Michael Kors Holdings Limited (NYSE:KORS) to report earnings on May, 30 before the open. They expect $0.59 EPS, down 19.18 % or $0.14 from last year’s $0.73 per share. KORS’s profit will be $89.78 million for 27.58 P/E if the $0.59 EPS becomes a reality. After $1.77 actual EPS reported by Michael Kors Holdings Limited for the previous quarter, Wall Street now forecasts -66.67 % negative EPS growth.

Michael Kors Holdings Limited (NYSE:KORS) Ratings Coverage

Among 19 analysts covering Michael Kors Holdings Ltd (NYSE:KORS), 10 have Buy rating, 0 Sell and 9 Hold. Therefore 53% are positive. Michael Kors Holdings Ltd had 26 analyst reports since December 5, 2017 according to SRatingsIntel. The stock of Michael Kors Holdings Limited (NYSE:KORS) has “Hold” rating given on Wednesday, January 31 by Cowen & Co. The stock of Michael Kors Holdings Limited (NYSE:KORS) earned “Neutral” rating by Bank of America on Thursday, February 8. The firm earned “Buy” rating on Thursday, February 8 by Susquehanna. The stock of Michael Kors Holdings Limited (NYSE:KORS) has “Buy” rating given on Monday, April 23 by Deutsche Bank. RBC Capital Markets maintained the shares of KORS in report on Wednesday, February 7 with “Hold” rating. On Tuesday, January 23 the stock rating was maintained by Susquehanna with “Buy”. Robert W. Baird maintained Michael Kors Holdings Limited (NYSE:KORS) rating on Thursday, December 21. Robert W. Baird has “Hold” rating and $58.0 target. On Wednesday, January 24 the stock rating was maintained by Oppenheimer with “Outperform”. As per Monday, December 18, the company rating was maintained by Jefferies. BMO Capital Markets maintained the stock with “Hold” rating in Wednesday, February 7 report.

More important recent Michael Kors Holdings Limited (NYSE:KORS) news were published by: Nasdaq.com which released: “Why Michael Kors Holdings Ltd Stock Slipped Today” on May 03, 2018, also Nasdaq.com published article titled: “Michael Kors Still Crushing Coach With Teens”, Streetinsider.com published: “Einhorn’s Greenlight Capital Enters Office Depot (ODP), Abercrombie & Fitch (ANF) (more…) – 13F” on May 15, 2018. More interesting news about Michael Kors Holdings Limited (NYSE:KORS) was released by: Businesswire.com and their article: “Michael Kors Holdings Limited Announces Reporting Date For Fourth Quarter and Fiscal 2018 Financial Results” with publication date: May 09, 2018.

Michael Kors Holdings Limited design, markets, distributes, and retails branded womenÂ’s apparel and accessories, and menÂ’s apparel. The company has market cap of $9.91 billion. The firm operates in three divisions: Retail, Wholesale, and Licensing. It has a 19.56 P/E ratio. The Retail segment is involved in the sale of womenÂ’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.

Michael Kors Holdings Limited (NYSE:KORS) Ratings Chart

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