Checking some other stock price data, we can see that the recent distance from the 50 day high was noted at -16.08% and the separation from the 50 day low is presently -7.57%.
In fairness, KORS' guidance during the third quarter had indicated that the struggles would continue and the company telegraphed the non-cash impairment charges. Quantbot Technologies LP bought a new position in shares of Michael Kors Holdings during the first quarter valued at about $1,504,000.
Michael Kors Holdings shares have declined 16 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 8 percent. Thrivent Financial for Lutherans now owns 5,670 shares of the lifestyle brand's stock worth $244,000 after buying an additional 190 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Michael Kors Holdings by 65.4% in the third quarter.
The bleak forecasts caused Michael Kors' share prices to plummet this morning, dropping 4.1 per cent in premarket trading. The company has a market capitalization of $6.00 billion, a P/E ratio of 8.45 and a beta of 0.70. Michael Kors Holdings Ltd has a 52-week low of $32.38 and a 52-week high of $53.29. But Michael Kors also intends to compete with Amazon. (NASDAQ:TOPS) puts the stock on today's active list.
Michael Kors Holdings Limited has a consensus hold rating from 24 Wall Street analysts, and the number of shares now sold short amount to at least 4.17% of shares outstanding. Diluted earnings per share are expected to be in the range of $3.57 - $3.67. Additionally, Michael Kors took a 4.6 percent decrease in revenue during the entire fiscal year 2017 to $4.49 billion from $4.71 billion the previous fiscal year. Michael Kors' wholesale business fell even more at 22.8 percent, meaning that department stores aren't stocking as much inventory, Fortune reported. If you are reading this piece of content on another site, it was stolen and republished in violation of U.S. & global trademark and copyright law. The correct version of this article can be read at https://www.themarketsdaily.com/2017/05/31/russell-investments-group-ltd-reduces-stake-in-michael-kors-holdings-ltd-kors.html. Several brokerages have weighed in on KORS.
Michael Kors CEO John Idol did note in a conference call with analysts that his company has a partnership with Amazon to sell Michael Kors-branded watches on Amazon.
A number of research firms have weighed in on KORS.
At the moment 24 analysts are watching Michael Kors Holdings Limited (NASDAQ:KORS), 1 rate it "Buy", 2 "Outperform", 20 "Underperform", 0 "Sell", while 1 "Hold".
The target price for Michael Kors Holdings Limited (KORS) is $40.55/share according to the consensus of analysts working on the stock, with an expected EPS of $0.7/share for the current quarter.
When taking a look at recommendations from analysts, investors can use the average brokerage recommendation score to determine the consensus take on a stock. Finally, BMO Capital Markets set a $38.00 price target on Michael Kors Holdings and gave the stock a hold rating in a research report on Tuesday, April 18th.
KORS has kicked-off a retail fleet optimization to counter the same.