State of Wisconsin Investment Board boosted its position in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,248 shares of the lifestyle brand’s stock after purchasing an additional 2,150 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of Michael Kors worth $6,807,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Michael Kors in the 2nd quarter worth about $114,000. Sandy Spring Bank lifted its position in shares of Michael Kors by 0.9% in the 2nd quarter. Sandy Spring Bank now owns 4,350 shares of the lifestyle brand’s stock worth $158,000 after buying an additional 40 shares during the last quarter. TrimTabs Asset Management LLC lifted its position in shares of Michael Kors by 105.1% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,537 shares of the lifestyle brand’s stock worth $164,000 after buying an additional 2,325 shares during the last quarter. Creative Planning increased its holdings in shares of Michael Kors by 30.8% in the 2nd quarter. Creative Planning now owns 5,005 shares of the lifestyle brand’s stock worth $181,000 after acquiring an additional 1,180 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Michael Kors in the 2nd quarter worth about $188,000. 86.59% of the stock is owned by institutional investors and hedge funds.
In other Michael Kors news, SVP Krista A. Mcdonough sold 7,500 shares of Michael Kors stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.93, for a total transaction of $419,475.00. Following the sale, the senior vice president now owns 10,647 shares in the company, valued at $595,486.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M William Benedetto sold 2,000 shares of Michael Kors stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $53.60, for a total transaction of $107,200.00. Following the sale, the director now owns 18,662 shares in the company, valued at approximately $1,000,283.20. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock worth $554,235 in the last ninety days. 6.00% of the stock is currently owned by insiders.
Michael Kors Holdings Ltd (KORS) traded up $0.81 during trading hours on Monday, hitting $58.79. 2,556,712 shares of the stock were exchanged, compared to its average volume of 2,506,048. Michael Kors Holdings Ltd has a 12 month low of $32.38 and a 12 month high of $59.61. The company has a market capitalization of $8,940.00, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.95 and a beta of 0.13.
Michael Kors (NYSE:KORS) last released its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.50. Michael Kors had a net margin of 12.68% and a return on equity of 42.09%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. analysts expect that Michael Kors Holdings Ltd will post 3.96 earnings per share for the current fiscal year.
A number of research firms recently weighed in on KORS. ValuEngine raised shares of Michael Kors from a “buy” rating to a “strong-buy” rating in a research note on Friday. MKM Partners raised shares of Michael Kors from a “sell” rating to a “neutral” rating and set a $26.00 price objective on the stock in a research note on Tuesday, November 7th. Jefferies Group reiterated a “buy” rating on shares of Michael Kors in a report on Friday, November 10th. Cowen reiterated a “hold” rating on shares of Michael Kors in a report on Friday, November 10th. Finally, TheStreet upgraded shares of Michael Kors from a “c+” rating to a “b” rating in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $49.84.
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Michael Kors Company Profile
Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of branded women’s apparel and accessories and men’s apparel bearing the Michael Kors tradename and related trademarks MICHAEL KORS, MICHAEL MICHAEL KORS, and various other related trademarks and logos. The Company operates through three segments: retail, wholesale and licensing.
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