Michael Kors Holdings Ltd (KORS) Stake Raised by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC lifted its position in shares of Michael Kors Holdings Ltd (NYSE:KORS) by 12.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,823 shares of the lifestyle brand’s stock after buying an additional 1,852 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Michael Kors were worth $1,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AMP Capital Investors Ltd boosted its stake in Michael Kors by 8.5% during the second quarter. AMP Capital Investors Ltd now owns 273,946 shares of the lifestyle brand’s stock worth $18,246,000 after acquiring an additional 21,554 shares in the last quarter. Swiss National Bank boosted its stake in Michael Kors by 3.1% during the second quarter. Swiss National Bank now owns 503,100 shares of the lifestyle brand’s stock worth $33,506,000 after acquiring an additional 15,100 shares in the last quarter. Voya Investment Management LLC boosted its stake in Michael Kors by 42.5% during the second quarter. Voya Investment Management LLC now owns 108,969 shares of the lifestyle brand’s stock worth $7,258,000 after acquiring an additional 32,494 shares in the last quarter. Bank of Nova Scotia boosted its stake in Michael Kors by 537.5% during the second quarter. Bank of Nova Scotia now owns 123,756 shares of the lifestyle brand’s stock worth $8,241,000 after acquiring an additional 104,344 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Michael Kors by 73.0% during the second quarter. Glenmede Trust Co. NA now owns 110,452 shares of the lifestyle brand’s stock worth $7,357,000 after acquiring an additional 46,613 shares in the last quarter. Institutional investors own 86.69% of the company’s stock.

In related news, CEO John D. Idol sold 6,676 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $65.26, for a total transaction of $435,675.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael David Kors sold 179,920 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $73.62, for a total transaction of $13,245,710.40. The disclosure for this sale can be found here. Insiders have sold 846,436 shares of company stock worth $60,640,959 over the last three months. 6.00% of the stock is owned by insiders.

KORS opened at $60.22 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.63 and a current ratio of 1.37. Michael Kors Holdings Ltd has a fifty-two week low of $47.49 and a fifty-two week high of $75.96. The stock has a market cap of $9.31 billion, a P/E ratio of 13.32, a PEG ratio of 1.97 and a beta of 0.12.

Michael Kors (NYSE:KORS) last released its quarterly earnings results on Wednesday, August 8th. The lifestyle brand reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.37. Michael Kors had a net margin of 13.14% and a return on equity of 39.01%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.80 earnings per share. The firm’s revenue was up 26.3% on a year-over-year basis. Equities research analysts predict that Michael Kors Holdings Ltd will post 5.02 EPS for the current fiscal year.

A number of research analysts have weighed in on KORS shares. UBS Group started coverage on shares of Michael Kors in a research note on Thursday, June 21st. They issued a “neutral” rating and a $70.00 price objective on the stock. Goldman Sachs Group started coverage on shares of Michael Kors in a research note on Monday, June 25th. They issued a “neutral” rating and a $72.00 price objective on the stock. HSBC started coverage on shares of Michael Kors in a research note on Monday, July 9th. They issued a “buy” rating and a $88.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Michael Kors in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group raised their price objective on shares of Michael Kors from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $75.52.

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

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