Michael Kors Holdings Limited (KORS) Holdings Raised by Norinchukin Bank The

Norinchukin Bank The grew its holdings in Michael Kors Holdings Limited (NYSE:KORS) by 11.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,936 shares of the lifestyle brand’s stock after acquiring an additional 5,656 shares during the quarter. Norinchukin Bank The’s holdings in Michael Kors Holdings Limited were worth $1,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Michael Kors Holdings Limited by 48.9% in the second quarter. Teachers Advisors LLC now owns 428,118 shares of the lifestyle brand’s stock worth $15,519,000 after purchasing an additional 140,576 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of Michael Kors Holdings Limited by 9.6% in the second quarter. Martingale Asset Management L P now owns 93,882 shares of the lifestyle brand’s stock worth $3,404,000 after purchasing an additional 8,255 shares during the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Michael Kors Holdings Limited by 100.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 187,354 shares of the lifestyle brand’s stock worth $6,792,000 after purchasing an additional 94,025 shares during the last quarter. South Dakota Investment Council raised its stake in shares of Michael Kors Holdings Limited by 20.0% in the second quarter. South Dakota Investment Council now owns 94,958 shares of the lifestyle brand’s stock worth $3,442,000 after purchasing an additional 15,800 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Michael Kors Holdings Limited by 9,030.5% in the second quarter. Systematic Financial Management LP now owns 251,090 shares of the lifestyle brand’s stock worth $9,102,000 after purchasing an additional 248,340 shares during the last quarter. 83.39% of the stock is owned by institutional investors and hedge funds.

Shares of Michael Kors Holdings Limited (NYSE:KORS) opened at 44.92 on Friday. Michael Kors Holdings Limited has a 52 week low of $32.38 and a 52 week high of $52.67. The stock has a 50 day moving average price of $41.84 and a 200-day moving average price of $37.67. The firm has a market capitalization of $6.81 billion and a price-to-earnings ratio of 13.78.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings data on Tuesday, August 8th. The lifestyle brand reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.18. Michael Kors Holdings Limited had a return on equity of 40.26% and a net margin of 11.91%. The firm had revenue of $952.40 million during the quarter, compared to the consensus estimate of $919.18 million. During the same period last year, the business posted $0.88 EPS. Michael Kors Holdings Limited’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts anticipate that Michael Kors Holdings Limited will post $3.70 EPS for the current year.

Michael Kors Holdings Limited announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 31st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the lifestyle brand to reacquire up to 18.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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Several brokerages have recently issued reports on KORS. Jefferies Group LLC set a $65.00 price objective on Michael Kors Holdings Limited and gave the stock a “buy” rating in a research note on Friday, May 19th. ValuEngine cut Michael Kors Holdings Limited from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Canaccord Genuity restated a “hold” rating and issued a $33.00 price objective (down from $38.00) on shares of Michael Kors Holdings Limited in a research note on Thursday, June 1st. Deutsche Bank AG restated a “hold” rating and issued a $36.00 price objective on shares of Michael Kors Holdings Limited in a research note on Friday, June 16th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $39.00 price objective (down from $42.00) on shares of Michael Kors Holdings Limited in a research note on Wednesday, May 24th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.54.

Michael Kors Holdings Limited 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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Institutional Ownership by Quarter for Michael Kors Holdings Limited (NYSE:KORS)

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