Gotham Asset Management LLC Has $13.48 Million Position in Michael Kors Holdings Limited (KORS)

Gotham Asset Management LLC trimmed its stake in shares of Michael Kors Holdings Limited (NYSE:KORS) by 40.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,874 shares of the lifestyle brand’s stock after selling 256,376 shares during the quarter. Gotham Asset Management LLC owned 0.25% of Michael Kors Holdings Limited worth $13,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KORS. BlackRock Inc. grew its stake in Michael Kors Holdings Limited by 3,587.4% during the 1st quarter. BlackRock Inc. now owns 13,985,812 shares of the lifestyle brand’s stock worth $532,997,000 after purchasing an additional 13,606,521 shares in the last quarter. Flossbach Von Storch AG grew its stake in Michael Kors Holdings Limited by 12.9% during the 2nd quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock worth $434,004,000 after purchasing an additional 1,366,038 shares in the last quarter. FMR LLC grew its stake in Michael Kors Holdings Limited by 33.9% during the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock worth $158,708,000 after purchasing an additional 1,107,385 shares in the last quarter. Bank of Nova Scotia grew its stake in Michael Kors Holdings Limited by 5,697.0% during the 1st quarter. Bank of Nova Scotia now owns 678,248 shares of the lifestyle brand’s stock worth $25,848,000 after purchasing an additional 666,548 shares in the last quarter. Finally, PDT Partners LLC grew its stake in Michael Kors Holdings Limited by 590.2% during the 2nd quarter. PDT Partners LLC now owns 639,200 shares of the lifestyle brand’s stock worth $23,171,000 after purchasing an additional 546,588 shares in the last quarter. 83.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Michael Kors Holdings Limited (NYSE:KORS) traded down 0.27% during trading on Friday, hitting $47.48. The stock had a trading volume of 1,388,867 shares. The firm has a market cap of $7.19 billion, a P/E ratio of 14.56 and a beta of 0.03. Michael Kors Holdings Limited has a one year low of $32.38 and a one year high of $52.67. The firm’s 50-day moving average is $44.43 and its 200-day moving average is $38.74.

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

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Several research analysts have recently issued reports on the company. Cowen and Company upped their price objective on Michael Kors Holdings Limited from $33.00 to $35.00 and gave the stock a “market perform” rating in a research report on Monday, June 12th. Canaccord Genuity set a $33.00 price objective on Michael Kors Holdings Limited and gave the stock a “hold” rating in a research report on Monday, June 12th. Deutsche Bank AG reaffirmed a “hold” rating and set a $36.00 price objective on shares of Michael Kors Holdings Limited in a research report on Friday, June 16th. BidaskClub raised Michael Kors Holdings Limited from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Finally, Jefferies Group LLC set a $60.00 price objective on Michael Kors Holdings Limited and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.27.

About Michael Kors Holdings Limited

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.

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

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