United Services Automobile Association lessened its stake in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,485 shares of the lifestyle brand’s stock after selling 3,593 shares during the quarter. United Services Automobile Association owned 0.07% of Michael Kors worth $7,095,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Stevens Capital Management LP acquired a new stake in shares of Michael Kors in the 3rd quarter valued at $4,478,000. Franklin Resources Inc. increased its stake in shares of Michael Kors by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 54,486 shares of the lifestyle brand’s stock valued at $3,734,000 after buying an additional 5,087 shares during the period. Bridgeway Capital Management Inc. acquired a new stake in shares of Michael Kors in the 3rd quarter valued at $44,393,000. Banco Santander S.A. acquired a new stake in shares of Michael Kors in the 3rd quarter valued at $12,560,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Michael Kors by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,255,296 shares of the lifestyle brand’s stock valued at $86,068,000 after buying an additional 16,649 shares during the period. Institutional investors and hedge funds own 86.95% of the company’s stock.
Several equities research analysts have recently commented on KORS shares. Buckingham Research lifted their target price on Michael Kors from $84.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Piper Jaffray Companies set a $71.00 price objective on Michael Kors and gave the stock a “hold” rating in a research note on Friday, August 17th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Michael Kors in a research note on Monday, September 24th. Guggenheim reaffirmed a “hold” rating on shares of Michael Kors in a research note on Tuesday, September 25th. Finally, Needham & Company LLC decreased their price objective on Michael Kors from $79.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.04.
In other Michael Kors news, insider Michael David Kors sold 179,920 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $73.62, for a total value of $13,245,710.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Krista A. Mcdonough sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $42.62, for a total value of $127,860.00. Following the completion of the transaction, the senior vice president now directly owns 2,423 shares of the company’s stock, valued at $103,268.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 519,516 shares of company stock valued at $36,945,527. Insiders own 6.00% of the company’s stock.
NYSE:KORS opened at $38.83 on Thursday. Michael Kors Holdings Ltd has a 1 year low of $38.10 and a 1 year high of $75.96. The company has a quick ratio of 0.71, a current ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.32.
Michael Kors (NYSE:KORS) last posted its earnings results on Wednesday, November 7th. The lifestyle brand reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. Michael Kors had a return on equity of 36.66% and a net margin of 11.57%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that Michael Kors Holdings Ltd will post 5.02 earnings per share for the current year.
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Michael Kors Company Profile
Michael Kors Holdings Limited design, markets, distributes, and retails branded women's and men's apparel and accessories. It operates in four segments: MK Retail, MK Wholesale, MK Licensing, and Jimmy Choo. The MK Retail segment sells women's apparel; handbags and small leather goods; men's apparel; footwear; and licensed products comprising watches, jewelry, fragrances, and beauty and eyewear.
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