Janus Henderson Group PLC grew its holdings in Michael Kors Holdings Ltd (NYSE:KORS) by 58.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 64,058 shares of the lifestyle brand’s stock after buying an additional 23,717 shares during the quarter. Janus Henderson Group PLC’s holdings in Michael Kors were worth $3,065,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new position in shares of Michael Kors in the 2nd quarter worth approximately $114,000. Sandy Spring Bank increased its holdings 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 purchasing an additional 40 shares in the last quarter. Hikari Power Ltd bought a new stake in shares of Michael Kors in the 3rd quarter worth $252,000. Sei Investments Co. increased its holdings in shares of Michael Kors by 65.1% in the 3rd quarter. Sei Investments Co. now owns 5,466 shares of the lifestyle brand’s stock worth $262,000 after purchasing an additional 2,156 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of Michael Kors in the 3rd quarter worth $268,000. Institutional investors and hedge funds own 86.32% of the company’s stock.
KORS has been the subject of a number of research analyst reports. Wolfe Research raised Michael Kors from a “peer perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Thursday, December 14th. ValuEngine upgraded Michael Kors from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity reiterated a “buy” rating and set a $67.00 target price (up from $58.00) on shares of Michael Kors in a research report on Friday, November 3rd. Goldman Sachs Group began coverage on Michael Kors in a research report on Tuesday, December 5th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Needham & Company LLC began coverage on Michael Kors in a research report on Monday, December 18th. They set a “buy” rating and a $69.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $52.81.
Shares of Michael Kors Holdings Ltd (NYSE:KORS) opened at $65.24 on Friday. The stock has a market capitalization of $9,920.00, a P/E ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 0.12. Michael Kors Holdings Ltd has a twelve month low of $32.38 and a twelve month high of $65.25.
Michael Kors (NYSE:KORS) last announced its quarterly earnings results on Monday, November 6th. The lifestyle brand reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.50. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. Michael Kors had a return on equity of 42.09% and a net margin of 12.68%. Michael Kors’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 earnings per share. analysts expect that Michael Kors Holdings Ltd will post 3.96 earnings per share for the current fiscal year.
In other Michael Kors news, SVP Pascale Meyran sold 6,835 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $60.01, for a total transaction of $410,168.35. Following the completion of the sale, the senior vice president now owns 10,081 shares in the company, valued at $604,960.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Krista A. Mcdonough sold 7,500 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.93, for a total value of $419,475.00. Following the transaction, the senior vice president now directly owns 10,647 shares in the company, valued at $595,486.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,835 shares of company stock valued at $964,403. 6.00% of the stock is owned by company insiders.
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About Michael Kors
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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