Maverick Capital Ltd. Invests $1.11 Million in Michael Kors Holdings Limited (KORS) Stock

Maverick Capital Ltd. bought a new position in shares of Michael Kors Holdings Limited (NYSE:KORS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 30,650 shares of the lifestyle brand’s stock, valued at approximately $1,111,000.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Michael Kors Holdings Limited by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,619,469 shares of the lifestyle brand’s stock valued at $633,368,000 after buying an additional 284,826 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Michael Kors Holdings Limited by 9.3% in the 2nd quarter. BlackRock Inc. now owns 15,287,608 shares of the lifestyle brand’s stock valued at $554,176,000 after buying an additional 1,301,796 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in shares of Michael Kors Holdings Limited by 12.9% in the 2nd quarter. Flossbach Von Storch AG now owns 11,972,527 shares of the lifestyle brand’s stock valued at $434,004,000 after buying an additional 1,366,038 shares in the last quarter. State Street Corp boosted its holdings in shares of Michael Kors Holdings Limited by 3.9% in the 1st quarter. State Street Corp now owns 8,681,138 shares of the lifestyle brand’s stock valued at $330,838,000 after buying an additional 325,525 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Michael Kors Holdings Limited by 33.9% in the 2nd quarter. FMR LLC now owns 4,378,144 shares of the lifestyle brand’s stock valued at $158,708,000 after buying an additional 1,107,385 shares in the last quarter. Institutional investors own 83.39% of the company’s stock.

A number of research firms have recently weighed in on KORS. Buckingham Research set a $52.00 price target on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Friday. Robert W. Baird set a $46.00 price target on shares of Michael Kors Holdings Limited and gave the company a “hold” rating in a report on Sunday, October 1st. ValuEngine upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Canaccord Genuity upgraded shares of Michael Kors Holdings Limited from a “hold” rating to a “buy” rating and raised their price target for the company from $43.00 to $58.00 in a report on Wednesday, September 27th. Finally, Wells Fargo & Company restated a “hold” rating and issued a $49.00 price target on shares of Michael Kors Holdings Limited in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.27.

Shares of Michael Kors Holdings Limited (KORS) traded down 0.27% during midday trading on Friday, hitting $47.48. 1,388,867 shares of the stock were exchanged. The company has a market cap of $7.19 billion, a price-to-earnings 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 has a 50 day moving average of $44.43 and a 200-day moving average of $38.74.

Michael Kors Holdings Limited (NYSE:KORS) last released its quarterly earnings results on Tuesday, August 8th. The lifestyle brand reported $0.80 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $952.40 million during the quarter, compared to analysts’ expectations of $919.18 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Michael Kors Holdings Limited will post $3.70 EPS for the current year.

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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.

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

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